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New Zealand Lending Rises in May on Broad Loan Growth

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New Zealand's lending from registered banks and non-bank lending institutions increased in May, driven by growth in housing, business, agricultural, and consumer loans, according to data from the Reserve Bank of New Zealand released on Tuesday.

Total housing loans from registered banks and non-bank lending institutions in New Zealand grew to NZ$399.03 billion in May from NZ$397.02 billion in April. Total personal consumer lending rose by NZ$5 million to NZ$14.46 billion in May.

Total business lending increased to NZ$143.13 billion in the period, from NZ$142.61 billion. Meanwhile, agricultural lending rose to NZ$63.16 billion in May, from NZ$62.19 billion in the previous month.

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