Animal spirits low in borrowing and credit

AUSTRALIAN consumers and businesses are reluctant to take out loans, while punters are being savvy with their credit card use despite record transactions.

CONSUMERS and businesses are shying away from borrowing and, while punters are giving their credit cards a workout, they're keeping debt in check.

THE total value of new loans including personal, business, housing and lease fell 33.2 per cent in August, seasonally adjusted, after a rise of 60.8 per cent in July.