Business lending market maintains momentum
The value of new commercial finance commitments rose 0.9 per cent in March compared with the previous month (in seasonally adjusted terms), according to the latest Australian Bureau of Statistics lending data.Revolving lending commitments rose 2.3 per cent and fixed lending commitments rose 0.4 per cent.The March increase follows a 4.8 per cent month-on-month increase in February. The past two months have seen a turnaround from December and January, when new business lending was down.The A$43.1 billion of new business lending in March was 2.2 per cent down on the same time last year and well down on lending in the peak month of April last year, when there were more than $47 billion of commitments.