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Boa Vista SCPC: Brazil's consumer credit recovery slows in November

Consumer credit recovery in Brazil declined 2.2% in November from the previous month and dropped 9.5% from a year earlier, according to data from credit research firm Boa Vista SCPC.

In the 11-month aggregate period, however, the index rose 1.5% compared to the same period of 2015, which shows that the country's credit recovery average has essentially remained stable over the last 12 months, Boa Vista said in a news release.

"Therefore, the economy's default pattern remains unchanged, since the flow of consumer delinquency records in recent months has been relatively low," the firm noted.

Meanwhile, the rate of bounced checks in Brazil in the aggregate period between January and November hit a ratio of 2.30%, the highest level seen since 2006, Boa Vista said in a separate news release.