São Paulo – Companies’ demand for credit increased by 0.7% in August from July, as per the Serasa Experian Indicator for Corporate Demand for Credit. Demand was up 6.2% in August from August of last year and 2.5% year-to-date through August. In spite of the surge, Serasa Experian economists assessed that the behavior is still cautious.
“The slight increase in companies’ demand for credit in August shows willingness to contract further debts is still restrained by the weak growth of economic activity and by the almost generalized increase in costs of credit lines in view of higher risks of default, combined with the worsening of the economic scenario,” reads the technical note about the result.
In August from July, demand for credit was up 0.8% among micro- and small-sized businesses, up 0.2% among large-sized businesses and down 0.3% among medium-sized businesses. The highest demand in August came from retail companies, up 2% from the previous month. Demand for credit increased by 0.8% in industry and declined by 0.8% in services.
*Translated by Rodrigo Mendonça
