Monitor AU Private Sector Credit m/m to gauge consumer confidence and spending trends in economic forecasts.
There is a positive correlation between borrowing and spending, as consumers and businesses tend to pursue credit when they feel confident about their financial future and are willing to spend.
What it Measures
This represents the change in the overall amount of new credit extended to consumers and businesses.
Usual Effect
A reading that exceeds the forecast is beneficial for the currency.
Source & Frequency
Reserve Bank of Australia (latest release) - https://www.rba.gov.au/ • Data is released monthly, on the last business day of the subsequent month.
How Data is Derived
N/A
Also Known As
N/A
Acronym
N/A