Financial Aggregates August 2009

Total credit provided to the private sector by financial intermediaries rose by 0.1 per cent over August 2009, following an increase of 0.2 per cent over July. Over the year to August, total credit rose by 2.5 per cent.

Housing credit increased by 0.6 per cent over August, following an increase of 0.6 per cent over July. Over the year to August, housing credit rose by 7.4 per cent. The rise in housing credit over August was due to growth in lending to owner-occupiers and investors.

Other personal credit increased by 0.5 per cent over August, following a fall of 0.2 per cent over July. Over the year to August, other personal credit fell by 5.6 per cent.

Business credit declined by 0.6 per cent over August 2009, following a fall of 0.4 per cent over July. Over the year to August, business credit declined by 2.2 per cent.

Over the month of August, M3 increased by 0.4 per cent and broad money increased by 0.1 per cent. Over the year to August, broad money grew by 8.7 per cent.

All growth rates for the financial aggregates are seasonally adjusted, and adjusted for the effects of breaks in the series as recorded in the footnotes to tables. Figures showing the levels of financial aggregates are not adjusted for series breaks. Historical levels and growth rates for the financial aggregates have been revised owing to the resubmission of data by some financial intermediaries, the re-estimation of seasonal factors and the incorporation of securitisation data.