Australia Private Sector Credit Rises 0.7% In October
November 29 2015 - 3:45PM
RTTF2
Total credit to the private sector in Australia advanced 0.7
percent on month in October, the Reserve Bank of Australia said on
Monday.
That topped expectations for an increase of 0.6 percent but was
unchanged from the previous month following a downward revision
from 0.8 percent.
On a yearly basis, private sector credit climbed 6.7 percent -
also beating forecasts for 6.6 percent, which would have been
unchanged from the September reading.
Individually, housing credit added 0.6 percent on month and 7.5
percent on year, while personal credit dipped 0.3 percent on month
and was flat on year and business credit jumped 10 percent on month
and 6.6 percent on year.
The M3 money stock was steady at 0.4 percent on month but
slipped to 6.3 percent on year, down from 7.7 percent in
September.
Broad money moved up to 0.5 percent on month from 0.4 percent in
the previous month, while it skidded from 7.6 percent on year in
2014 to 6.4 percent this year.
Also on Monday: • Company operating profits in Australia were up
a seasonally adjusted 1.3 percent on quarter in the third quarter
of 2015, the Australian Bureau of Statistics said.
That beat expectations for an increase of 1.1 percent following
the 1.9 percent contraction in the second quarter.
Inventories were up 0.1 percent on quarter, beating expectations
for a flat reading - which would have been unchanged from the three
months prior.
Wages and salaries gained 1.0 percent on quarter.
• The latest survey from TD Securities showed that consumer
prices in Australia are expected to pick up just 1.8 percent on
year in November.
That was in line with expectations and unchanged from the
previous month's forecast.
On a monthly basis, inflation is expected to add 0.1 percent
following the flat reading in October.
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