Financial Aggregates November 2009

Total credit provided to the private sector by financial intermediaries rose by 0.1 per cent over November 2009, following a decline of 0.1 per cent over October. Over the year to November, total credit rose by 0.8 per cent.

Housing credit increased by 0.7 per cent over November, following an increase of 0.8 per cent over October. Over the year to November, housing credit rose by 8.1 per cent. Housing credit rose over November due to growth in lending to both owner-occupiers and investors.

Other personal credit rose by 0.3 per cent over November, following a rise of 0.5 per cent over October. Over the year to November, other personal credit fell by 1.9 per cent.

Business credit declined by 1.0 per cent over November 2009, following a decline of 1.5 per cent over October. Over the year to November, business credit declined by 8.2 per cent.

Over the month of November, M3 fell by 0.1 per cent and broad money was flat. Over the year to November, broad money grew by 4.9 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.