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Credit demand slack in August

01 October 2010 4:39PM
Demand for credit slackened off once more in August, financial aggregates published yesterday by the Reserve Bank of Australia show. Growth for the month was 0.1 per cent, and the lowest in a year.Demand for credit by business fell 0.6 per cent over the month, making it the second month in a row showing a fall in business credit, after essentially flat demand over 2010.Growth in credit for housing was stable at 0.6 per cent for the month. Growth in personal credit fell 0.2 per cent, perhaps reflecting weaker demand for margin loans.

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