New Zealand's Total New Lending Rises in May

New Zealand's total new lending increased to NZ$16.19 billion in May from NZ$14.17 billion in April, according to data from the Reserve Bank of New Zealand released on Monday. New lending fully secured by residential mortgage rose to NZ$8.48 billion in May from NZ$8.3 billion in the previous month. Personal consumer new lending increased to NZ$233 million from NZ$223 million. New lending for business fell to NZ$3.42 billion from NZ$4 billion. Lending for agricultural purposes rose to NZ$2.48 billion from NZ$1.29 billion. Other new lending increased to NZ$1.58 billion from NZ$345 million.