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Consumers and businesses cautious about debt

Staff Reporter 1 minute read

While home buyers returned to the market in November consumers and businesses still remain cautious about taking on debt.

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According to data released by the ABS yesterday, the value of commercial finance commitments fell in November by 10.4 per cent, seasonally adjusted, to $28.375 billion. This represents a decline of close to 40 per cent since November 2007.

Personal finance commitments also continued to decline; they fell by 1.8 per cent from October, seasonally adjusted, and 14.8 per cent from November 2007.

Owner occupied housing finance inched up in November by 1.4 per cent.

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Consumers and businesses cautious about debt
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