The author has been described by News Ltd as an "iconoclast", "Svengali", a pollie's "economist muse", and "pungently accurate". Fairfax says he is a "Renaissance man" and "one of Australia’s most respected analysts." Stephen Koukoulas concludes that he is "85% right", and "would make a great Opposition leader." Terry McCrann claims the author thinks "‘nuance’ is a trendy village in the south of France", but can be "scintillating" when he thinks "clearly". The ACTU reckons he’s "an enigma wrapped in a Bloomberg terminal, wrapped in some apparently well-honed abs."

Monday, October 31, 2011

Housing credit up 0.5% in September; business up 0.4%; personal up 0.4%

Very healthy, income-like credit growth now emerging right across the Australian economy, with y-o-y business credit finally turning positive. From the RBA:

"Total credit provided to the private sector by financial intermediaries rose by 0.5 per cent over September 2011, after rising by 0.2 per cent over August. Over the year to September, total credit rose by 3.4 per cent.

Housing credit increased by 0.5 per cent over September, following an increase of 0.4 per cent over August. Over the year to September, housing credit rose by 5.8 per cent.



Other personal credit rose by 0.4 per cent over September, after decreasing by 1.1 per cent over August. Over the year to September, other personal credit decreased by 0.9 per cent.

Business credit rose by 0.4 per cent over September, after rising by 0.1 per cent over August. Over the year to September, business credit increased by 0.2 per cent.

Over the month of September, M3 grew by 0.8 per cent and broad money grew by 0.9 per cent. Over the year to September, broad money grew by 8.3 per cent."
at 11:40 AM