12 June 2012 7:01am

Sell-side analysts have taken a more positive view of the business credit market, following the release of the latest lending data.

Business credit, reported by the Reserve Bank, rose by 0.3 per cent in February and increased by 0.7 per cent in both March and April, lifting annual growth to 2.3 per cent.

Australian Prudential Regulation Authority figures show a 0.5 per cent increase in business lending in April and an increase of 1.8 per cent over the three months to April – suggesting an annual growth rate of six to seven per cent.

Westpac senior economist Andrew...