Consumer credit demand decline eases. Mortgage enquiries show positive growth.

Equifax Quarterly Consumer Credit Demand Index: Dec 2019

Overall consumer credit applications down -7.3% (vs Dec quarter 2018). 

• Credit card applications declined by -9.9% (vs Dec quarter 2018)
• Personal loan applications dropped by -5.3% (vs Dec quarter 2018)

Mortgage enquiries increased by +12.6% (Vs Dec quarter 2018), continuing trend from previous quarter.

ABOUT EQUIFAX

Equifax is a global data analytics company using unique data, innovative analytics, technology and industry expertise to power organisations and individuals around the world by transforming knowledge into insights that help make more informed business and personal decisions.

Headquartered in Atlanta, Ga., Equifax operates or has investments in 24 countries in North America, Central and South America, Europe and the Asia Pacific region, with the acquisition of Veda, a data analytics company and the leading provider of credit information and analysis in Australia and New Zealand. Combined, the companies bring over 170 years of data and insights experience to the marketplace.

Equifax is a member of Standard & Poor's (S&P) 500® Index, and its common stock is traded on the New York Stock Exchange (NYSE) under the symbol EFX. For more information, visit www.equifax.com.au or follow the company’s news on LinkedIn.

NOTE TO EDITORS

The Quarterly Consumer Credit Demand Index by Equifax measures the volume of credit card and personal loan applications that go through the Equifax Consumer Credit Bureau by financial services credit providers in Australia. Credit applications represent an intention by consumers to acquire credit and in turn spend; therefore, the index is a lead indicator. This differs to other market measures published by the RBA which measure credit provided by financial institutions (i.e. balances outstanding).

DISCLAIMER

Purpose of Equifax media releases:

The information in this release does not constitute legal, accounting or other professional financial advice. The information may change, and Equifax does not guarantee its currency or accuracy. To the extent permitted by law, Equifax specifically excludes all liability or responsibility for any loss or damage arising out of reliance on information in this release and the data in this report, including any consequential or indirect loss, loss of profit, loss of revenue or loss of business opportunity.