Financial Aggregates September 2009

Total credit provided to the private sector by financial intermediaries fell by 0.2 per cent over September 2009, following an increase of 0.2 per cent over August. Over the year to September, total credit rose by 1.7 per cent.

Housing credit increased by 0.7 per cent over September, following an increase of 0.8 per cent over August. Over the year to September, housing credit rose by 7.7 per cent. Housing credit rose over September due to growth in lending to owner-occupiers and investors.

Other personal credit fell by 0.2 per cent over September, following a rise of 0.4 per cent over August. Over the year to September, other personal credit fell by 5.6 per cent.

Business credit declined by 1.3 per cent over September 2009, following a fall of 0.7 per cent over August. Over the year to September, business credit declined by 4.6 per cent.

Over the month of September, M3 fell by 0.2 per cent and broad money fell by 0.3 per cent. Over the year to September, broad money grew by 7.0 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.