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Consumer credit demand in Brazil rises 5.2% YOY in September

Demand for consumer credit in Brazil rose 5.2% year over year in September, bringing credit growth in the segment to 5.2% for the first nine months of 2018, data from credit research firm Serasa Experian said.

However, the monthly indicator decreased 4.5% when compared to the previous month. According to Serasa Experian economists, consumer credit demand was adversely affected by political and electoral volatility during the month, leading to a rise in the dollar and a decline in consumer confidence.

The lower number of business days in September compared to August also factored into the demand situation for the month.

In the year-over-year comparison, the indicator showed positive trends in all income brackets, with earners below 500 reais per month showing the greatest increase with 7.5%.

As of Oct. 16, US$1 was equivalent to 3.71 Brazilian reais.