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New business lending falls

After reporting solid growth in February and March, the commercial lending market dipped in April.According to the latest Australian Bureau of Statistics lending data, the value of new commercial finance commitments fell 3.3 per cent in April, compared with the previous month (in seasonally adjusted terms).Revolving credit commitments fell five per cent month-on-month and fixed lending commitments fell 2.8 per cent.Reserve Bank figures released a couple of weeks ago showed that lenders' business portfolios grew by 7.4 per cent over the 12 months to April.However, new lending over the period has been weak. The ABS figures show that the A$41.4 billion of new lending to business in April was 14.4 per cent below the $48.4 billion of new business lending in April last year.

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