Interest Rates•Series ID: DGFAC12 / DGFACNW12•1977–2026
Total Private Sector Credit Growth - Historical Data
Tracks total private sector credit including select financial businesses and securitisations. Joins discontinued DGFAC12 history (to June 2019) to DGFACNW12 (from July 2020). The reporting change creates a series break and a gap; no missing months are estimated.
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Current Statistics & Historical Records
Latest Reading (Aug 2026)
8.6%
Prev (Jul 2026): 8.5%+0.1 pp
Highest Recorded (Oct 1988)
25.5%
Recorded in Oct 1988
Lowest Recorded (Apr 1992)
-1.8%
Recorded in Apr 1992
Long-Run Mean (1977–2026)
10.3%
50 annual observations · Monthly
Total Private Sector Credit Growth - Historical Series (1977–2026)
% p.a.Drag to pan, scroll to zoom, or toggle between full annual history (1977–2026) and recent monthly releases.
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Source: Reserve Bank of Australia (RBA) / Australian Bureau of Statistics (ABS) (DGFAC12 / DGFACNW12) Latest: 8.6 % p.a. (Aug 2026)
Total Private Sector Credit Growth by Decade (1977–2026)
Decade averages, peaks, and troughs across Australian economic cycles
1970s1977–1979
16.6%
High (1977):17.8%
Low (1978):15.5%
1980s1980–1989
18.4%
High (1988):23.7%
Low (1983):10.9%
1990s1990–1999
7.8%
High (1996):12.5%
Low (1992):-1.2%
2000s2000–2009
11.9%
High (2007):15.2%
Low (2009):3.3%
2010s2010–2019
4.4%
High (2015):6.3%
Low (2010):2.7%
2020s2020–2026
5.8%
High (2022):8.3%
Low (2020):1.7%
Total Private Sector Credit Growth - Historical Table (1977–2026)
Unit: % p.a. · Source: Reserve Bank of Australia (RBA) / Australian Bureau of Statistics (ABS) (DGFAC12 / DGFACNW12)
| Year | Total Credit Growth (% p.a.) | Year Range (Low – High) | Historical Context / Year Snapshot |
|---|---|---|---|
| 2026 | 8.3% | 7.7% – 8.7% | The Australian Economy in 2026 → |
| 2025 | 7.0% | 6.5% – 7.8% | Disinflation & monetary policy recalibration |
| 2024 | 5.7% | 4.9% – 6.7% | The Australian Economy in 2024 → |
| 2023 | 5.8% | 4.7% – 7.5% | The Australian Economy in 2023 → |
| 2022 | 8.3% | 7.3% – 8.9% | Post-pandemic inflation surge & rapid RBA tightening cycle |
| 2021 | 3.7% | 1.2% – 7.0% | The Australian Economy in 2021 → |
| 2020 | 1.7% | 1.4% – 2.1% | COVID-19 pandemic shock & 0.10% cash rate floor |
| 2019 | 3.8% | 3.3% – 4.3% | The Australian Economy in 2019 → |
| 2018 | 4.6% | 4.3% – 5.0% | The Australian Economy in 2018 → |
| 2017 | 5.2% | 4.8% – 5.4% | The Australian Economy in 2017 → |
| 2016 | 6.0% | 5.4% – 6.6% | The Australian Economy in 2016 → |
| 2015 | 6.3% | 6.0% – 6.7% | The Australian Economy in 2015 → |
| 2014 | 5.0% | 4.0% – 5.9% | The Australian Economy in 2014 → |
| 2013 | 3.4% | 3.1% – 3.8% | The Australian Economy in 2013 → |
| 2012 | 3.9% | 3.3% – 4.4% | The Australian Economy in 2012 → |
| 2011 | 3.2% | 2.6% – 3.5% | China mining investment & Terms of Trade supercycle peak |
| 2010 | 2.7% | 1.3% – 3.6% | The Australian Economy in 2010 → |
| 2009 | 3.3% | 0.8% – 6.5% | The Australian Economy in 2009 → |
| 2008 | 11.8% | 6.9% – 16.2% | Global Financial Crisis (GFC) & emergency rate cuts |
| 2007 | 15.2% | 14.3% – 16.5% | The Australian Economy in 2007 → |
| 2006 | 14.4% | 13.5% – 15.1% | The Australian Economy in 2006 → |
| 2005 | 13.4% | 13.0% – 13.8% | The Australian Economy in 2005 → |
| 2004 | 14.8% | 13.7% – 15.7% | The Australian Economy in 2004 → |
| 2003 | 13.4% | 12.0% – 15.5% | The Australian Economy in 2003 → |
| 2002 | 10.3% | 8.6% – 12.0% | The Australian Economy in 2002 → |
| 2001 | 9.7% | 8.5% – 11.5% | The Australian Economy in 2001 → |
| 2000 | 12.2% | 11.1% – 13.0% | Introduction of the 10% Goods and Services Tax (GST) |
| 1999 | 10.9% | 10.4% – 11.2% | The Australian Economy in 1999 → |
| 1998 | 10.8% | 10.1% – 11.6% | The Australian Economy in 1998 → |
| 1997 | 10.6% | 9.7% – 11.7% | The Australian Economy in 1997 → |
| 1996 | 12.5% | 11.3% – 13.6% | The Australian Economy in 1996 → |
| 1995 | 9.8% | 9.1% – 11.0% | The Australian Economy in 1995 → |
| 1994 | 7.4% | 5.0% – 9.4% | The Australian Economy in 1994 → |
| 1993 | 2.2% | -0.4% – 4.9% | RBA formalises 2–3% inflation targeting |
| 1992 | -1.2% | -1.8% – -0.6% | The Australian Economy in 1992 → |
| 1991 | 2.9% | -0.7% – 8.6% | Early 1990s recession ("The recession we had to have") |
| 1990 | 12.2% | 8.7% – 15.0% | Monetary tightening peak (17.5% Cash Rate) |
| 1989 | 18.7% | 14.7% – 21.2% | The Australian Economy in 1989 → |
| 1988 | 23.7% | 21.8% – 25.5% | The Australian Economy in 1988 → |
| 1987 | 18.5% | 16.9% – 20.1% | October 1987 sharemarket crash |
| 1986 | 21.3% | 19.2% – 22.4% | The Australian Economy in 1986 → |
| 1985 | 22.5% | 21.6% – 23.6% | The Australian Economy in 1985 → |
| 1984 | 15.0% | 9.7% – 20.9% | The Australian Economy in 1984 → |
| 1983 | 10.9% | 8.5% – 13.3% | Float of the Australian Dollar & Prices and Incomes Accord |
| 1982 | 17.4% | 13.7% – 19.7% | Early 1980s recession & drought |
| 1981 | 18.4% | 17.2% – 19.3% | The Australian Economy in 1981 → |
| 1980 | 17.6% | 16.7% – 18.5% | The Australian Economy in 1980 → |
| 1979 | 16.4% | 14.1% – 18.1% | The Australian Economy in 1979 → |
| 1978 | 15.5% | 13.7% – 17.5% | The Australian Economy in 1978 → |
| 1977 | 17.8% | 16.6% – 18.9% | The Australian Economy in 1977 → |
Related Australian Economic Statistics
Source Information & Methodology
- Primary Institution:
- Reserve Bank of Australia (RBA) / Australian Bureau of Statistics (ABS)
- Dataset / Publication:
- Growth in Selected Financial Aggregates - Total Credit 12-Month Ended
- Series / Table ID:
- RBA Statistical Table D1 (DGFAC12 / DGFACNW12)
- Release Frequency:
- Monthly
• Primary source: Reserve Bank of Australia (RBA) / Australian Bureau of Statistics (ABS) - Growth in Selected Financial Aggregates - Total Credit 12-Month Ended (RBA Statistical Table D1).
• Observation frequency: Monthly. Annual table values represent calendar year averages.
• Series coverage spans 1977 to 2026 (50 annual observations).
APA Citation:Reserve Bank of Australia & Australian Bureau of Statistics. (2026). Growth in Selected Financial Aggregates - Total Credit 12-Month Ended (D1: DGFAC12 / DGFACNW12). Retrieved October 2026 from https://www.rba.gov.au/statistics/tables/
Frequently Asked Questions: Total Private Sector Credit Growth
- What is the current Total Private Sector Credit Growth?
- As of Aug 2026, the latest recorded Total Private Sector Credit Growth is 8.6 (% p.a.), compared with 8.5 in Jul 2026.
- What is the highest and lowest Total Private Sector Credit Growth ever recorded in Australia?
- Across the historical series (1977–2026), the highest observation was 25.5 (% p.a.) in Oct 1988, while the lowest was -1.8 (% p.a.) in Apr 1992. The long-run historical average is 10.3.
- Where is the official Total Private Sector Credit Growth data sourced from?
- This series is compiled from Reserve Bank of Australia (RBA) / Australian Bureau of Statistics (ABS) (Growth in Selected Financial Aggregates - Total Credit 12-Month Ended, Series ID: DGFAC12 / DGFACNW12) and is updated on a monthly basis under CC BY 4.0 International / RBA Terms.