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, April 30, 2012

Housing credit growth tracks incomes

A nice set of private credit numbers today:

Total credit provided to the private sector by financial intermediaries rose by 0.4 per cent over March 2012, after rising by 0.4 per cent over February. Over the year to March, total credit rose by 3.4 per cent.

Housing credit increased by 0.4 per cent over March, following an increase of 0.4 per cent over February. Over the year to March, housing credit rose by 5.3 per cent.

Other personal credit grew by 0.1 per cent over March, after increasing by 0.3 per cent over February. Over the year to March, other personal credit decreased by 1.5 per cent.

Business credit increased by 0.6 per cent over March, after growing by 0.4 per cent over February. Over the year to March, business credit increased by 1.3 per cent.

Over the month of March, M3 grew by 0.6 per cent and broad money grew by 0.3 per cent. Over the year to March, broad money grew by 7.1 per cent.
at 11:41 AM