Business credit up

TOTAL credit provided to the private sector by financial intermediaries fell by 0.1 per cent last month.
According to the Reserve Bank of Australia (RBA), this follows a 0.1 per cent rise in April. Over the year to May, total credit rose by 3.9 per cent.

Housing credit rose 0.5 per cent in May, and by 7.0 per cent over the year, seasonally adjusted. Other personal credit fell 0.6 per cent in May and was down 7.8 per cent over the year.
Business credit fell 0.7 per cent in the month, but increased 2.1 per cent over the year.