Total borrowings by companies fell almost 13 per cent in April as the prospects of an economic downturn deterred corporate investment.

Total commercial finance fell 12.9 per cent, seasonally adjusted, to $27.066 billion in the month, from $31.086 billion in March, the Australian Bureau of Statistics (ABS) said.

Overall personal finance commitments, though, rose 0.2 per cent in April, seasonally adjusted, to $6.270 billion, from $6.260 billion in March, the ABS said.

Housing finance for owner occupation was one area of growth, rising 1.9 per cent to $16.050 billion in April from $15.750 billion in March.

Lease finance fell 8.4 per cent in April to $422 million, compared with $461 million in March.

article excerpts smh.com.au