Credit growth in the private sector rose in August, according to data from the RBA

Credit growth in the private sector rose in August, according to data from the RBA. The total value of credit provided to the private sector lifted by 0.3% in the month, following a 0.4% lift in July. Annual growth came in at 3.4%, slightly higher than the 3.2% rise over the year to July. Housing credit has increased by 0.4% yoy for August, its highest level of growth since September 2012. Personal credit on the other hand grew 0.9% yoy, the strongest level seen since May 2011. (VIEW LINK)