Personal and business debt levels plummet

Total personal finance commitments fell 7.8 per cent in November to $7,199 billion, Australian Bureau of Statistics data shows.

Total commercial finance in November fell 9.6 per cent to $33.098 billion, seasonally adjusted, from $36.624 billion in October.

Lease finance was up 15.1 per cent to $490 million, compared with $426 million October. Housing finance for owner occupation rose 2.2 per cent to $13.790 billion, from $13.487 billion in October.

Source: Sydney Morning Herald

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