Lending for homes is down by more than 20 per cent in the last year, the biggest annual decline since 2008, and while businesses are borrowing a bit more than they usually do at this time of year, the latest NAB survey shows business confidence deteriorating.
New figures from the Australian Bureau of Statistics show lending to households fell 2.4 per cent in January, dragged down by a slide in the value of lending for homes.
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Matthew Cranston is the United States correspondent, based in Washington. He was previously the Economics correspondent and Property editor. Connect with Matthew on Twitter.
