1 May 2012

Household borrowing slightly higher

7:44 am on 1 May 2012

Household borrowing edged higher in March with consumers showing signs of being willing to take on more debt.

Reserve Bank data shows seasonally-adjusted household borrowing at $186.3 billion in March, a rise of 0.2% compared with the previous month.

This represents the biggest rise since July 2011.

On an annual basis housing-related borrowing grew 1.3% while consumer borrowing rose 0.6 %.

The annual rate of increase in total borrowing was 1.3%, the highest in 13 months.