São Paulo – Consumer demand for credit grew by 8% in August as against July this year, according to the Serasa Experian indicator. In the comparison between August 2011 and August 2010, there was growth of 14%. According to Serasa Experian, the company that conducts the survey, the growth in demand for credit was a reflection of Fathers’ Day and of the greater number of working days during the month (there were 23 in August and 21 in July this year).
Consumer demand for credit grew by 13.1% from January to August 2011. In 2010, the demand grew by 16.4%. According to Serasa Experian, in 2011 the demand for credit will tend to be lower than last year.
The survey shows that consumers in the lower income range sought the most credit in August. Out of those who earn up to 500 Brazilian reals (US$ 300) per month, demand for credit grew by 12.4% in August as against July. Among those who earn from 5,000 to 10,000 reals (US$ 3,000 to US$ 6,000), demand for credit grew by 5.1%.
Out of all Brazilian regions, the one in which demand for credit grew the most as against August was the Northeast: 20.3%. The lowest rate was recorded in the Southeast, at 3.8%.
*Translated by Gabriel Pomerancblum
