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Borrowings up

THE level of personal lending has increased 4.7 per cent in February, according to the Australian Bureau of Statistics, after a 1.1 per cent drop in January, seasonally adjusted. Personal finance lending has increased from $5.8 billion in January to $6.1 billion in February. Fixed lending increased by 5.9 per cent to $2.7 billion, while revolving credit commitments grew 3.8 per cent to $3.5 billion.

Of fixed lending, nearly $900 million is to buy an existing or used car, $242 million for debt consolidation and $448 million for refinancing.

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