HomeLockedPersonal loans hit $7 billion in August

Personal loans hit $7 billion in August

Personal loans hit $7 billion in August
Demand for personal loans other than mortgages topped $7 billion in August, for the first time in 18 months.
The August data released by the Australian Bureau of Statistics showed personal loans – including fixed and revolving credit – rose by 4.1 percent seasonally adjusted in August to reach $7.18 billion.
Commercial loans also rose by 5.6 percent to $28.51 billion in August, while lease finance dropped by 9.4 percent to $398 million in the month.
The results indicate growing confidence in the economy.
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Demand for personal loans other than mortgages topped $7 billion in August, for the first time in 18 months.

The August data released by the Australian Bureau of Statistics showed personal loans – including fixed and revolving credit – rose by 4.1 percent seasonally adjusted in August to reach $7.18 billion.

Commercial loans also rose by 5.6 percent to $28.51 billion in August, while lease finance dropped by 9.4 percent to $398 million in the month.

The results indicate growing confidence in the economy.

People who read this, also liked:
Swan warns economic challenges ahead
Banks to raise mortgage rates beyond RBA rate

Jessica Stanichttp://www.dynamicbusiness.com.au
Jessica has a background in both marketing and journalism and is dedicated to making the website the leading online resource for small to medium businesses with ambitions to grow.