Credit demand sparks in June quarter
Demand for loans by business was at its highest in four years during the June 2012 quarter, the "flow of funds" data in the National Financial Accounts shows.The Australian Bureau of Statistics estimated demand for credit overall - in the form of loans from banks - was A$10.9 billion over the quarter. Demand for credit from business (or what the ABS terms private other non-financial corporations) was $11.8 billion in the June 2012 quarter.Credit demand, based on the National Financial Accounts, has been on a recovery trend since late 2010, following a year and a half of negative demand for credit from business.The demand for credit in the latest quarter was a lesser form of financing for business, however.The ABS estimated new shares issued by business at $15.4 billion.