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New Zealand Total Lending Rises in March

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-- New Zealand's total lending edged higher in March, driven by a rise in housing and agricultural loans, even as personal consumer and business lending declined, according to data from the Reserve Bank of New Zealand released on Thursday.

Total housing loans from registered banks and non-bank lending institutions in New Zealand grew to NZ$395.64 billion in March from NZ$393.61 billion in February. Total personal consumer lending fell to NZ$14.54 billion in March from NZ$14.66 billion in the previous month.

Total business lending decreased to NZ$142.66 billion in the period, from NZ$142.76 billion. Meanwhile, agricultural lending climbed to NZ$63.63 billion in March, from NZ$63.39 billion in the previous month.

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