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The value of national personal financing fell by 7.8 per cent to $12.581 billion from April to May, ABS data revealed today.
The result indicated that high interest rates and other price pressures had decreased consumers’ propensity to borrow.
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As reported last week, finance for owner-occupied home loans also fell in May by 5.7 per cent to $6.262 billion.
Leasing finance suffered a decline of 7.1 per cent in May while commercial lending managed an increase of 3.2 per cent.
Published: 14-07-08
