Financial Aggregates July 2002

Credit provided to the private sector by financial intermediaries rose by 0.6 per cent in July, in seasonally adjusted terms, following a rise of 1.3 per cent in June. Total credit rose by 10.4 per cent over the year to July.

In seasonally adjusted terms M3 increased by 0.7 per cent and broad money rose by 0.9 per cent in July. Over the year to July, M3 increased by 13.9 per cent and broad money rose by 11.3 per cent.

The annual re-estimation of seasonal factors by the ABS has been completed, and the new factors are used. This has led to revisions in the monthly growth rates of the financial  aggregates.

Growth rates are reported after adjusting for the effects of the breaks in series recorded in the footnotes to tables. Figures showing the levels of financial aggregates are not adjusted for series breaks.

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