Business and personal loans decline: ABS

Business finance loans and personal lending fell in February, according to the Australian Bureau of Statistics (ABS).

Total business finance commitments fell a seasonally-adjusted 8.4% in February to $29 billion, compared to $31.65 billion in January.

Personal lending dropped 3.8% to $7.19 billion.

Finance for owner-occupied housing fell four per cent to $13.4 billion.

Lease finance was the only expansion in lending listed in the February figures, rising 4.1% to $498 million.