Australian Home Loans Decline In May

Australia’s lending to households declined in May, data from the Australian Bureau of Statistics showed on Thursday.

Lending for investment dwellings decreased 1.7 percent from the previous month. Economists had forecast a 0.5 percent rise.

The value of loans to owner occupied dwellings declined a seasonally adjusted 2.7 percent in May.

At the same time, the overall value of new lending commitments to households fell 1.3 percent in May, after a 0.6 percent rise in April.

Personal finance dropped a seasonally adjusted 0.7 percent in May reversing a 4.2 percent in the previous month.

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