Australia June Private Sector Credit Up 0.1% Vs. May

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Total credit extended to private sector recipients in Australia increased 3.4 percent in June compared to June of last year.

The Reserve Bank of Australia reported Friday that total private sector credit increased 0.1 percent for the month, matching the 0.1 percent rise seen in May.

The RBA said housing sector credit increased 0.6 percent in June, following a 0.5 percent rise in May. For the full year to June, housing credit increased 7.1 percent.

The central bank said the increase in housing credit in June was mostly due to grown in lending to owner-occupiers. Lending for investment housing was described as "weak."

Credit extended to the business sector decreased 0.5 percent on month, following a 0.8 percent fall in May.

The RBA also said the M3 Money Supply grew by 0.7 percent in June and the Broad Money total increased b 0.9 percent. For the full year to June, the broad money supply increased 11.3 percent.

(Market News Provided by RTTNews)