Lending to Irish households falls

Lending to Irish households declined by 3.7 per cent in the year to the end of September, according to figures published by the Central Bank today.

The rate was unchanged on the previous month, with an €88 million decline in lending in September coming after a net monthly decrease of €500 million in August.

The Central Bank said lending for house purchases was 2 per cent lower in September on an annual basis and that lending for consumption and other purposes fell by 8.4 per cent over the same period.

On a monthly basis, loans for consumption and other purposes fell by €99 million, while loans for house purchases increased by €11 million.

Lending to Irish based non-financial corporations was 4.2 per cent lower in the year to the end of September. This followed an annual decline of 3.2 per cent in August.

On a monthly basis, loans to businesses decreased by €358 million during September, following a decrease of €234 million in August.