Commercial lending dips in April
(9 June 2017 – Australia) According to the Australian Bureau of Statistics (ABS), the seasonally adjusted series for the value of total commercial finance commitments fell 4.8 percent for the month of April. That is an increase of 1.5 percent from the corresponding period in 2016.
Meanwhile, revolving credit commitments dropped by 21.8 percent between March and April 2017, while fixed lending commitments rose 0.7 percent. In 2016, those figures fell by five percent 2.8 percent respectively.
The ABS found the trend series for the value of total lease finance commitments fell 1.1 percent in April 2017 while the seasonally adjusted series rose 5.9 percent, compared to a sharp drop of 11.4 percent in March 2017.
In personal finance, the ABS said seasonally adjusted series for the value of total personal finance commitments fell 5.3 percent in April 2017, compared to the month prior. Fixed lending commitments fell 5.5 percent, and revolving credit commitments dropped 5.1 percent.
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