Andrew Hanlan, analyst at Westpac, notes that Australia’s total credit rose by only 0.07% in the month of June, following gains of 0.14% and 0.13% in April and May (revised down from 0.15% and 0.16%). Key Quotes “In June, the mix of credit was: housing +0.16%; business -0.06%; and personal -0.2%.” “For the June quarter, credit grew by 0.3%, or 1.4% annualised, the weakest 3 month period since mid-2011, at which time business credit was still contracting post the GFC.” “Annual credit growth is 3.3% currently, the slowest pace since September 2013. Credit growth has progressively eased since expanding by 6.6% in 2015, with growth moderating to 5.6% in 2016, +4.8% in 2017 and +4.3% in 2018.” “Key to this trend has been the housing sector. Housing credit growth has moved lower over recent years: from 7.4% in 2015; 6.3% in both 2016 and 2017; to 4.7% in 2018. The latest annual reading is 3.5%, the weakest in the history of the series (dating from the late 1970s) – the previous cyclical low was 4.4% in early 2013.” FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next RBNZ likely to cut the OCR by 25bps – ANZ FX Street 4 years Andrew Hanlan, analyst at Westpac, notes that Australia's total credit rose by only 0.07% in the month of June, following gains of 0.14% and 0.13% in April and May (revised down from 0.15% and 0.16%). Key Quotes "In June, the mix of credit was: housing +0.16%; business -0.06%; and personal -0.2%." "For the June quarter, credit grew by 0.3%, or 1.4% annualised, the weakest 3 month period since mid-2011, at which time business credit was still contracting post the GFC." "Annual credit growth is 3.3% currently, the slowest pace since September 2013. Credit growth has progressively eased since expanding by… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
