Private sector credit growth was weak, the housing price downturn a big contributor, but prices have been making a turnaround to higher in recent months.

0.1% m/m in Nov.

  • expected 0.2% m/m, prior 0.1%

and 2.3% y/y

  • expected 2.4% y/y, prior 2.5%

The data is via the RBA:

Australia Private sector credit growth

Housing credit growth slower again in the month, credit to business picked up m/m.