São Paulo – After declining for two straight months, consumer demand for credit in Brazil increased again in March, by 16.7% from February and 14.9% from March of last year. In quarter one 2015, consumer demand for credit grew by 5.9%.
Economists at Serasa Experian, the company in charge of the survey, the result reflects the fact that March this year had more business days than March 2014. The Carnival holidays happened in February this year, and in March in 2014. Thus, March 2015 had 22 business days, while February 2015 had 18. March 2014 had 19 business days.
Divided by number of business days, demand for credit was down 5% in March from February and 0.8% in March from March 2014. Serasa Experian believes the data show the fact that “the scenario is adverse to higher consumer indebtedness (high inflation, rising interest rates and the prospect of higher unemployment)”.
Demand for credit increased across all income brackets in March from February, and all areas of the country.
*Translated by Gabriel Pomerancblum
