27.02.201823:37:00UTC+00Australia Private Sector Credit Rises Less Than Expected

Total credit to the private sector in Australia increased at a slower-than-expected pace in January, data from the Reserve Bank of Australia showed on Wednesday.

Private sector credit climbed a seasonally adjusted 0.3 percent month-over-month in January, the same rate of increase as in December. Economists had expected a 0.4 percent rise for the month.

On an annual basis, credit advanced 4.9 percent at the start of the year.

Individually, housing credit added 0.5 percent over the month and 6.2 percent annually in January. At the same time, personal credit edged up 0.1 percent on monthly basis, while it dropped 0.9 percent from last year.