Credit demand by Australia's small business sector fell sharply in June, with demand for asset finance plunging 21 per cent.
Veda Advantage's commercial credit demand index showed credit demand by small to medium enterprises in the June quarter declined 5.6 per cent over the same period in 2009, and fell another 2.1 per cent in July. A surprise sharp fall of 10 per cent occurred in the month of June, highlighting the volatility of SME credit demand which is running 6.1 per cent below the June 2008 quarter.
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