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Business loans recover from post-GFC lows

18 January 2011 5:45PM
The flow of new loans to business is improving from the low of the second half of 2009 and early 2010, though lending levels remain subdued when compared with the levels in the months immediately following on the onset of the GFC.Monthly data from the Australian Bureau of Statistics shows commercial finance commitments in November 2010 increased one per cent to $30.1 billion from the month before, on a seasonally adjusted basis.Commercial loans are up 11.1 per cent on a year ago.Fixed lending commitments increased 3.8 per cent, while revolving credit commitments fell 4.9 per cent, the ABS said.On an optimistic reading of the data, such as in a note published yesterday by CommSec, commercial finance has risen for the third straight month and in annual terms the growth rate is 4.4 per cent, or the best result in 14 months.

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