Data Diary

RBA financial aggregates for July were released yesterday (here) – in brief: Housing credit increased by 0.5 per cent over July. Over the year to July, housing credit rose by 8.1 per cent. Other personal credit was flat over July. Over the year to July, other personal credit increased by 3.2 per cent. Business credit [...]

The RBA published the monetary aggregates yesterday (here).  M3 is threatening to join it’s international brethren: While the US has been struggling with a contracting money supply, Australia remains in positive territory.  Still with the credit creation machine at its apex from a housing perspective and our funding needs likely to require more homegrown capital [...]

Playing catch-up on this – the RBA released the financial aggregates data for March 2010 last Friday (see here). Housing finance still rising the escalator – up 8.5% for the year to March and 0.7% for month: While business credit remains stubbornly in contraction mode – down 6.9% for the year to March. And M3 [...]

While I’m updating charts – here is the latest M3 data from the RBA: From my view in the pews, I reckon it’s unlikely that we’ll have the money supply growth that we enjoyed in the noughties. More likely, with debt levels elevated at the consumer level (not corporates – they are looking pretty darn [...]

The money supply, as measured by M3, has found some legs (though it’s growth rate remains below the long term trend): As noted earlier (see Household debt to GDP ratio), it’s the retail market that has been merrily running up the credit aggregates. On the other hand, business continue to deleverage – at a slowing [...]

By the look of the RBA’s December monetary aggregate release – the government sponsored housing and car splurge continues apace but the rest of the economy is busy paying down its debts. First up the housing finance numbers (all seasonally adjusted): Compare and contrast to the personal finance and business finance charts: The contraction in [...]