Financial Aggregates July 2010

Total credit provided to the private sector by financial intermediaries rose by 0.1 per cent over July 2010, following an increase of 0.2 per cent over June. Over the year to July, total credit rose by 2.8 per cent.

Housing credit increased by 0.5 per cent over July, following an increase of 0.4 per cent over June. Over the year to July, housing credit rose by 8.1 per cent. Housing credit rose over July due to growth in lending to both owner-occupiers and investors.

Other personal credit was flat over July, following a fall of 0.3 per cent over June. Over the year to July, other personal credit increased by 3.2 per cent.

Business credit fell by 0.4 per cent over July, following a fall of 0.1 per cent over June. Over the year to July, business credit declined by 5.0 per cent.

Over the month of July, M3 rose by 0.9 per cent and broad money increased by 0.8 per cent. Over the year to July, broad money grew by 4.0 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.