Australia, private sector credit for October: 0.4% m/m (expected 0.4%)

Growth of private sector credit has been relatively subdued (see the 'prior' y/y below). Steady at the same rate for Oct.

0.4 % m/m

• expected 0.4% m/m, prior 0.4%

4.6 % y/y

• expected 4.6% y/y, prior 4.6%

RBA with the data. A year ago (the Oct 2017) total growth was 5.2% y/y, now down to 4.6%. A positive is the better rate of growth of credit to business. Indicative of rising investment into the economy.