The ABS this morning released Lending Finance data for the month of August, which registered big seasonally-adjusted falls across all categories except housing:
In seasonally-adjusted terms, the value of personal finance commitments fell by -3.3% to be down -3.0% over the year:
The value of lease finance commitments also fell – down -5.1% over the month – but is up 25.3% over the past year:
The value of commercial finance fell by -5.2% in August and is down -23.8% over the year, well below pre-GFC highs:
By contrast, housing finance commitments bucked the trend. While the value of owner-occupier housing finance rose by 1.3% in August, more importantly, the number of commitments (excluding refinancings) rose by 2.6% (see yesterday’s post).
Twitter: Leith van Onselen. Leith is the Chief Economist of Macro Investor, Australia’s independent investment newsletter covering trades, stocks, property and yield. Click for a free 21 day trial.
