Consumer borrowing slows

New Zealand consumer borrowing for housing and consumption rose 13.5 per cent in September from a year earlier, the slowest annual pace since July 2003, according to figures from the Reserve Bank.

Lending to households by all financial institutions rose to $143.57 billion in September, according to the figures published on the central bank's website. Lending rose 13.8 per cent in the 12 months ended August 31.