Business lending tumbles at year's end


Commercial finance has tumbled in November after posting a significant increase the previous month, ABS reports

Business lending tumbles at year's end
Business lending tumbles at year's end

January 17, 2012

Business lending has tumbled in November after posting a significant increase the previous month, according the ABS.

Lending finance data out today shows that commercial finance decreased by 9.6 percent to just over $33 billion in November, in seasonally adjusted terms.

This follows a 16.5 percent increase in October and 10 percent decline in September.

Personal finance is also down, falling by 7.8 percent to $7.2 billion in November last year.

Meanwhile, lease finance made a 15.1 percent turnaround, rising to $490 million.

Housing finance for owner occupation was also up, improving by 2.2 percent to $13.8 billion.

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