Lending commitments given boost

Figures released by the Australian Bureau of Statistics have shown that commercial lending jumped up in March, an encouraging sign for the economy.

The value of commercial lending commitments jumped 20.5 percent ($5.187 billion), to a five-month high of $30.498 billion in March.

The figures show that the demand for credit by businesses is not as weak as it appeared when the February figures were released.

Lending for housing jumped up 7.3 percent, while personal lending fell 2.2 percent.

Overall, there are positive signs that the economy could be in for a recovery.

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