Australian credit growth data earlier - soft end to 2018

A summary of the Westpac response to the credit data from Australia earlier:

• Australia, private sector credit for December 2018

WPAC:

• Credit growth has been slowing as the housing sector cools in response to tighter lending conditions and a softening of demand.
• a soft end to 2018
• Housing credit growth has slowed over recent years: from 7.4% in 2015; 6.3% in both 2016 and 2017; to 4.7% in 2018.
• On housing, indicators point to a further cooling of conditions.