2017.12.2900:11:00UTC+00Australia's Private Sector Credit Rises More Than Forecast

Australia's private sector credit grew more than expected in November, figures from the Reserve Bank of Australia revealed Friday.

Private sector credit climbed 5.4 percent year-on-year in November, slightly faster than the 5.3 percent increase posted in October and the expected growth of 5.2 percent.

On a monthly basis, growth in private sector credit improved to 0.5 percent from 0.4 percent in October.

Credit for housing advanced 6.4 percent annually and that for business grew 4.7 percent. Meanwhile, personal credit fell 1.2 percent.

Broad money supply rose 6 percent year-on-year in November compared to the 6.3 percent increase in the same period of 2016.