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Credit recovery in Brazil improves in January, Boa Vista says

Credit recovery in Brazil rose 0.3% in January from the previous month on a seasonally adjusted basis, and increased 4.2% from a year earlier, according to data from credit research firm Boa Vista SCPC.

The credit recovery index, which is derived from the number of removals from Boa Vista's delinquency records, fell 1.1% year over year in the accumulated 12 months through January.

"Despite the decrease in the accumulated 12 months, some regions are already starting to show a trend reversal, indicating a gradual increase in economic activity and improvement of the labor market," Boa Vista said. "If this scenario continues, the recovery of credit for the other regions is expected to converge at positive levels in the coming months of 2018."

Data published in January showed consumer credit recovery in Brazil falling 0.4% in 2017 from the previous year.