Volatile data masks steady improvement in commercial and personal lending
The commercial and personal finance markets experienced solid growth in the year to June, although there were plenty of ups and downs along the way.According to the latest Australian Bureau of Statistics lending finance data, new commercial finance commitments rose 12.1 per cent in June, compared with the previous month (in seasonally adjusted terms). The commercial finance data has bounced around this year; in May it was down six per cent.However, the A$46.5 billion of commercial finance written in June was 29.4 per cent higher than the $35.9 billion written in June last year.Personal finance data has also been volatile, with commitments down 1.8 per cent in June after rising 7.9 per cent in May. The $8.5 billion of personal finance written in June was 11.4 per cent higher than the $7.6 written in June last year.