Australia data, May private sector credit -0.1% m/m (expected 0.0%, prior 0.0%)

For the y/y, +3.2%

  • expected 3.4%, prior 3.6%

Credit to business and consumers down on the month. Both of those sectors will be avoiding borrowing if they can as its survival mode right now. Note the business credit contraction in the table below (for May) – typical for a recession. 

Data via the RBA:

credit Australia

AUD barely moving.

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