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Decline in consumer credit demand driven by a continued fall in credit card applications despite steady growth in personal loans. Mortgage demand decline continues.
Overall consumer credit applications fell -7.1% (vs March qtr 2018):
No change in overall consumer credit demand decline. Trend continues with decline in credit cards and personal loan growth remains steady. Mortgage demand continues to decline.
- Overall consumer credit applications fell -4.1% (vs December qtr 2017)
Overall consumer credit demand dropped, led by a decline in credit card applications, offset by a slight growth in personal loans.
The Equifax Consumer Credit Demand Index for September Quarter 2018 shows that consumer credit applications have dropped.
Overall credit demand growth has slowed with some growth in personal loans, yet a decline in credit cards.
The Equifax Consumer Credit Demand Index for June Quarter 2018 shows that consumer credit applications has slowed.