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)
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