Clipping of news on Brazilian Culture, Law and Citizenship
03/27/2014
This article was translated by an automatic translation system, and was therefore not reviewed by people.
transparent image
Payroll drives high consumer credit in February, says CNC
SAO PAULO - Survey of the Central Bank of Brazil announced on Wednesday ( 26 ) shows that the daily average grant funds allocated to individuals increased 3.6% in February compared with the previous month, not counting the seasonal adjustments .
According to the National Confederation of Trade in Goods , Services and Tourism ( CNC ) , the increase was mainly due to growth of 23.3 % of payroll loan - a loan facility that discounts direct payroll .
Compared to February 2013 , the concessions record growth of 14.2 % , with emphasis on payroll loans , which grew by 27.9% , and the features of the credit card , which grew 15.8% .
Regarding the outlook for the year , the CNC considers that consumer credit should close the period with nominal growth of 9 % over 2013 with interest rates to the borrower reaching 39.9 % per annum , subject to the current forecast of the evolution of GDP in 2014 from 1.7 % and expectations of the basic interest rate for December of this year , 11% per year
" Despite the 9% growth forecast for this year , adjusted for inflation , consumer credit is expected to grow less than last year," says Fabio Bentes economist CNC .
The entity also projects that , according to the predictions of variation of 2.5% of credit to businesses and resources targeted for this year , the credit / GDP ratio is expected to end 2014 and 57.3 % - 1.5 percentage points higher than the current rate of 55.8 % .
Source : MSN.com
Our news are taken in full from our partner sites . For this reason , we can not change their content even in cases of typos .
This article was translated by an automatic translation system, and was therefore not reviewed by people.