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Boa Vista SCPC: Brazil consumer defaults decline in November

Brazil's consumer default rate fell 3.3% annually in the 11-month period through November, according to data from credit research firm Boa Vista SCPC.

The default rate for the month of November alone declined by 2.4% from the prior month on a seasonally adjusted basis, and fell 11.2% from the prior-year period, Boa Vista said. For the rolling 12 month-period through November, the indicator declined 3.5% year over year.

The general decline in delinquencies was driven by greater financial discipline among families, which limited their consumption, the credit research firm said.

The research firm noted that the current pace of declining defaults is in line with the expected sustainable recovery of credit demand amid low economic and income growth, lower interest rates and controlled inflation.