Australia Private Sector Credit Gains 0.4% In May

Overall private sector credit in Australia was up 0.4 percent on month in May, the Reserve Bank of Australia said on Friday – in line with expectations and easing from 0.5 percent in April.

On a yearly basis, overall private sector credit was up 5.2 percent.

Housing credit added 0.4 percent on month and 4.6 percent on year, while personal credit fell 0.1 percent on month but gained 2.7 percent on year and business credit was up 0.4 percent on month and 6.6 percent on year.

Broad money rose 0.3 percent on month and 5.0 percent on year.

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