Business lending bounces back
After falling for three consecutive months, new business lending bounced back in July.According to the latest Australian Bureau of Statistics lending data, new commercial finance commitments grew nine per cent in July, compared with the previous month (in seasonally adjusted terms).This was a strong turnaround from a month-on-month fall of 8.7 per cent in June.The A$38.9 billion of new business lending in July was 11.6 per cent down on the same time last year.New lease finance fell 8.7 per cent to $491 million.Reserve Bank figures show that business loan balances grew by 0.3 per cent in July, compared with the previous month, and by 6.2 per cent in the year to July.