Australia’s private sector credit increased at a faster-than-expected pace in February, data from the Reserve Bank of Australia showed Thursday.
Private sector credit climbed a seasonally adjusted 0.4 percent month-over-month in February, faster than the 0.2 percent rise in January. Economists had expected a 0.3 percent rise for the month.
On an annual basis, credit advanced 4.9 percent in February.
Individually, housing credit added 0.5 percent over the month and 6.2 percent annually in February. At the same time, personal credit dropped 0.2 percent on monthly basis and slid 1.1 percent from last year.