Australian Lending Finance for January 2010
Posted on 17 March 2010
Consistent with the global trend to deleveraging – Australia’s latest finance figures show that both businesses and consumers keep reducing their borrowings:
Now sure there is some seasonality to January’s numbers – but on a like-for-like basis the total for Jan 2010 was $26.5bn, some 17% lower than last January’s $31.9bn and the lowest since January 2005. Or looked at another way, the 12 month rolling average is still heading south…this has got to make it hard for the discretionary sector doesn’t it?
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