Commercial lending up 2.5% in May: ABS

The value of total commercial finance commitments rose 2.5% in May, following a rise of 2.7% in April, a rise of 2% in March and a 1% rise in February, the latest ABS lending finance figures show.

Fixed lending commitments rose 7.4%, following a rise of 0.9% in the previous month.

Revolving credit commitments fell 11.5%, after a rise of 8.3% in the previous month.

The value of commitments for the purchase of dwellings by individuals for rent or resale (using commercial finance) rose 1.5% in May 2013 on a trend basis and the seasonally adjusted series rose 0.8%.

In seasonally adjusted terms, the value of total personal finance commitments fell 3.1%. Revolving credit commitments fell 6.2% and fixed lending commitments fell 0.9%.