Australia: Private sector credit rose by +0.4%/m in Feb - TDS

Analysts at TDS note that Australia’s private sector credit rose by +0.4%/m in Feb, growth in housing credit driven by owner-occupiers (+0.7%/m) while business credit stagnates.

Key Quotes

“Dec qtr financial accounts tells us 56% of ACGBs are held offshore, while only 27% of semis are held offshore (banks have half). Employment by industry (Feb qtr) revealed that jobs growth was strongest for construction, health, education and retail over the past year.”