Business loans trending up

The Australian Bureau of Statistics said the value of commercial finance commitments increased 1.4 per cent in August from July. The level of business loans funded has now exceeded $30 billion for each of the last seven months, following a run of six months where the level was less than $30 billion.

August was the highest level of business lending, on a trend basis, since May 2008.

The Reserve Bank of Australia said that “surveyed business conditions remained below average, although business confidence had increased noticeably to around long-run average levels.”

Source: Banking Day