Market Research Report
Australian Consumer Credit: Forecasts and Future Opportunities
|Published by||GlobalData||Product code||479848|
|Published||Content info||36 Pages
|Australian Consumer Credit: Forecasts and Future Opportunities|
|Published: March 16, 2017||Content info: 36 Pages||
GlobalData's "Australian Consumer Credit: Forecasts and Future Opportunities" report analyzes the Australian consumer credit market, with coverage of both supply and demand factors as well as sectoral analysis.
Consumer reservations about debt levels and repayment will relax as the economy continues to grow and unemployment falls. However, consumers will be cautious about taking on new debt, with consumer credit gross advances growing by a modest CAGR of 2.7% between 2017-20. Outstanding balances and gross advances have yet to reach pre-crisis levels. We now expect total fixed and revolving credit loans to reach A$156.6bn by 2020, with a CAGR of 2% over the forecast period. Australia's mining states experienced a rough patch late in 2014, as the mining sector suffered due to the commodities bust. The end of the mining investment boom locally also led to a significant disparity in growth between Australian states. Although in its infancy, the new US administration has had a positive impact on major commodity prices, along with continued demand from East Asia. If sustained this will benefit Australia's mining states and allow for continued expansion of the personal loan market.
Specifically, the report -