Financial Aggregates May 2013

Total credit provided to the private sector by financial intermediaries grew by 0.3 per cent over May 2013 after increasing by 0.3 per cent over April. Over the year to May, total credit rose by 3.0 per cent.

Housing credit increased by 0.4 per cent over May following an increase of 0.4 per cent over April. Over the year to May, housing credit rose by 4.5 per cent.

Other personal credit decreased by 0.1 per cent over May after decreasing by 0.2 per cent over April. Over the year to May, other personal credit decreased by 0.2 per cent.

Business credit rose by 0.1 per cent over May after increasing by 0.2 per cent over April. Over the year to May, business credit rose by 0.9 per cent.

Over the month of May, M3 grew by 0.8 per cent and broad money grew by 0.4 per cent. Over the year to May, broad money grew by 6.0 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. The RBA credit aggregates measure credit provided by financial institutions operating domestically. They do not capture cross-border or non-intermediated lending.