Demand Factors: Annual Credit Growth

The figures below represent the total increase in all borrowing (public and private) in Australia during the observed period.  What is not revealed is the percentage change due to the different types of borrowing.  For example, in 2007/08 overall borrowing increased significantly, but this was largely due to changes in public borrowing.  The rate of credit growth amongst private borrowers was relatively low at this time, despite falling interest rates.

Year Percentage Increase (%) 1996/7 9.8% 1997/8 11.0% 1998/9 9.9% 1999/00 10.2% 2000/01 9.9% 2001/02 12.8% 2002/03 11.1% 2003/04 10.8% 2004/05 11.9% 2005/06 13.7% 2006/07 13.4% 2007/08 19.6%

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