São Paulo – The amount of companies that sought credit in August grew 6.2% from July to August, according to consulting firm Serasa Experian. In comparison with August of last year, there was growth of 7.3%. From January to August, the demand was 2.9% higher than in the same period of 2010.
Whereas demand for credit increased among micro and small companies (6.6%), among medium and large enterprises it declined by -1.8% and -0.9%, respectively. “It is worth noting that medium companies are being hit the hardest by the adverse international scenario and the appreciated exchange rate, due to the greater concentration of exporting companies in this enterprise category,” said the Serasa economists in a statement.
The sector in which demand for credit grew the most in August was services (7.4%), followed by trade (5.6%) and industry (4.1%). The Serasa economists ascribe the increase in credit demand in the services sector to the fact that it was the least impacted by international competition and high domestic interest rates.
*Translated by Gabriel Pomerancblum
