Private sector credit in Australia rose by 0.4 percent month-over-month in September of 2018, following a five-month high of 0.5 percent growth in the previous month and matching market consensus. Credit growth slowed for business (0.6 percent vs 0.8 percent in August) and housing (0.3 percent vs 0.4 percent). Meanwhile, credit for other personal use was flat, compared to a 0.2 percent fall in a month earlier. Compared to the same month of the prior year, private sector credit went up 4.6 percent. Private Sector Credit in Australia averaged 0.87 percent from 1976 until 2018, reaching an all time high of 2.70 percent in July of 1986 and a record low of -0.50 percent in July of 1992.
Private Sector Credit in Australia is expected to be 0.42 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Private Sector Credit in Australia to stand at 0.41 in 12 months time. In the long-term, the Australia Private Sector Credit is projected to trend around 0.41 percent in 2020, according to our econometric models.