Australian business lending stays down in March
Representing the third consecutive month of decline.
The value of Australian commercial finance commitments fell again in March.
The Australian Bureau of Statistics (ABS) released its latest lending finance data for the month of March, reporting a 0.3% month-on-month drop (trend) in total commercial finance commitments.
March's results mark three back-to-back months of decline, following four consecutive months of gains. Prior to September, figures hadn't risen since November 2015.
Fixed lending commitments fell 1.4% month-on-month, while revolving credit commitments rose 3.8%.
Revolving loan facilities allow businesses to borrow money as needed to fund working capital needs and maintain operations. Drawing against the loan brings down the available balance, whereas making payments on the debt brings up the available balance.
The value of housing finance for owner occupiers rose 0.1% in March, while personal finance fell 1.3% and lease finance jumped up 1.3%.
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