“Economy receives borrowing boost (Australian Broadcasting Corporation)” plus 1 more |
| Economy receives borrowing boost (Australian Broadcasting Corporation) Posted: 11 Oct 2009 07:04 PM PDT Posted 
Both business and personal borrowing surged in August according to official figures (ABC News: Giulio Saggin, file photo) The latest personal and business lending figures add further weight to the argument that Australia's economy is rapidly heading back to business as normal. Commercial finance has been stubbornly weak since the global financial crisis froze credit markets, but posted a 5.6 per cent bounce during August with $28.5 billion borrowed according to the Bureau of Statistics' seasonally adjusted figures. The more stable trend figure was still negative, -0.3 per cent for the month, but indicated the rate of decline in commercial finance is easing. The personal finance figures also recorded a bounce, up 4.1 per cent to $7.2 billion borrowed by households for non-housing related purchases, much of it on credit cards. However, as revealed in last week's release of the housing finance figures, loans for owner-occupied homes fell 1.7 per cent during August. Lease financing was still a weak point, falling 9.4 per cent seasonally adjusted, and 0.7 per cent in trend terms, but it is a relatively small category of finance, only accounting for around $400 million in August. This content has passed through fivefilters.org.  This posting includes an audio/video/photo media file: Download Now |
| Small U.S. firms face credit squeeze as crisis drags (Reuters via Yahoo! News) Posted: 11 Oct 2009 04:58 PM PDT |
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