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Fall in Swedish household borrowing as household loans fall in September

Thursday, 25 October 2012
Growth rate for Swedish household loans declined in September. The annual growth rate was measured at 4.5 percent, a decrease compared to August when it stood at 4.6 percent, new data from Swedish statistic office, Statistics Sweden (SCB) show.

In September, loans by households from monetary financial institutions (MFIs) had an annual growth rate of 4.5 percent, a decrease compared to August when it was 4.6 percent. In September 2011, the growth rate was 5.8 percent and had a downward trend for the whole of last year. MFIs include organizations such as banks and housing credit institutions.

Loans by households from MFIs amounted to Skr2 737 billion in September. This represents an increase of Skr 119 billion compared to the corresponding month last year. Most of the increase can be explained by housing loans, which accounted for Skr 96 billion and had an annual growth rate of 4.6 percent, SEB writes in a press release.
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