Financial Aggregates October 2009

Total credit provided to the private sector by financial intermediaries was flat over October 2009, following a decline of 0.1 per cent over September. Over the year to October, total credit rose by 1.1 per cent.

Housing credit increased by 0.7 per cent over October, following an increase of 0.7 per cent over September. Over the year to October, housing credit rose by 8.0 per cent. Housing credit rose over October due to growth in lending to both owner-occupiers and investors.

Other personal credit rose by 0.6 per cent over October, following a rise of 0.2 per cent over September. Over the year to October, other personal credit fell by 3.6 per cent.

Business credit declined by 1.3 per cent over October 2009, following a decline of 1.3 per cent over September. Over the year to October, business credit declined by 6.8 per cent.

Over the month of October, M3 fell by 0.3 per cent and broad money fell by 0.2 per cent. Over the year to October, broad money grew by 5.7 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.