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Consumer credit demand in Brazil continues to rise in November

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Consumer credit demand in Brazil continues to rise in November

Consumer credit demand in Brazil increased 1.4% in November compared to a year earlier and rose 1.3% from the previous month, according to credit research firm Serasa Experian.

In the accumulated period from January through November, consumer credit demand in Brazil jumped 4.2%, the firm said.

The year-over-year rise in November is the seventh consecutive monthly increase in consumer credit demand, following a 5.4% expansion in October.

Brazilian consumers, especially from the low-income segment, are gradually returning to the credit market amid lower inflation and borrowing costs, improvements in the job market, and a higher degree of confidence in the country's economic recovery, Serasa said.