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Brazil business credit demand jumps 9.5%, Serasa Experian says

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Brazil business credit demand jumps 9.5%, Serasa Experian says

Credit demand from Brazilian businesses popped 9.5% year over year in November as stabilizing economic conditions and falling interest rates spurred greater confidence to take on new debt, according to Serasa Experian.

Compared to the prior month, demand for corporate credit ticked 1.8% higher in the month.

"The resumption of economic growth, coupled with falling interest rates and inflation, as well as a gradual recovery of confidence levels, are gradually reviving the search for credit," the credit research firm said.

Demand from micro- and small-sized businesses was particularly robust, the firm said, rising 10.2% year over year, while demand from medium and large companies declined.

Despite the November improvement, corporate credit demand is still down 1.9% year-to-date, largely driven by weaker demand among larger companies.