Australia Private Sector Credit Rises More Than Expected

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Australia's private sector credit increased more than expected in July, data from the Reserve Bank of Australia showed Friday.

Private sector credit climbed a seasonally adjusted 0.4 percent month-over-month in July, following a 0.3 percent rise in June. Economists had expected the same 0.3 percent increase for the month.

On an annual basis, credit advanced 4.4 percent in July.

Individually, housing credit added 0.4 percent over the month and 5.5 percent annually in July.

At the same time, personal credit dropped 0.1 percent monthly and slid 1.4 percent from last year.