Credit recovery in Brazil for the period from January through September declined 2.5% compared to the year-ago period, according to data from credit research firm Boa Vista SCPC.
In the 12 months through September, the credit recovery index, which is derived from the number of removals from the delinquency records in the firm's database, fell 3.0% year over year.
For September alone, credit recovery dropped 7.7% from August 2016 and declined 5.5% from August.
In line with the trend of regional indicators, the country's average credit recovery deepened its downward trend, Boa Vista said. "Still, the pattern of defaults in the economy remains broadly unchanged as the growth in the flow of consumer delinquency records in recent months also remains close to stable," the credit research firm added.