In December, Australia's private sector credit increased by a seasonally adjusted 0.6 percent from the previous month, according to the Reserve Bank of Australia on Friday. This figure remained consistent with November's data and surpassed forecasts which anticipated a 0.5 percent rise.
Annually, private sector credit experienced an 8.6 percent growth. Breaking it down, housing credit saw a 0.5 percent increase over the month and a 5.5 percent rise over the year. Personal credit similarly grew by 0.5 percent month-on-month and 3.0 percent year-on-year. Business credit notably expanded by 0.8 percent on a monthly basis and surged by 8.9 percent annually.
Additionally, broad money increased by 0.3 percent for the month and rose by 5.3 percent over the year.
