1 Mar 2012

NZ household borrowing flat in January

9:22 am on 1 March 2012

New Zealand household borrowing remained soft in January with a rise in housing credit offsetting weaker consumer borrowing.

Reserve Bank figures show seasonally-adjusted total household borrowing rose 0.1% to $185 billion from December, after growing 0 - 0.2% last year.

The annual rate of increase in total borrowing was 1.1%, the same as in the previous month.

Housing-related borrowing grew 1.2% from a year ago, while consumer borrowing fell 0.2%.