Australia Private Sector Credit for March 2021
0.4% m/m
expected 0.3% m/m, prior 0.2%
1.0% y/y
expected 0.8% y/y, prior 1.6%
Housing again grows. Credit to business shrunk again y/y, up m/m.
The month of March 2020 saw credit grow strongly (see table above, +3.7%) as business sought to draw on cash for reserves for the storm ahead (lockdown nationwide). March 2021 is not as dramatic, a much more subdued pace as we approach a degree of normality.
