Business lending tumbles at year's end
Commercial finance has tumbled in November after posting a significant increase the previous month, ABS reports
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Business lending tumbles at year's end
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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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