Corporate credit demand up 6.6% in July, as companies prepare for busy H2

Thursday, August 18, 2011

Credit demand from Brazil's corporate sector increased 6.6% in July over the same month in 2010, as companies prepare for a busy second half of the year, when sales usually go up, credit information firm Serasa Experian said in a report.

Corporate credit demand in the first seven months of the year was up 2.3% year-on-year, while it insreased 3.4% month-on-month in July.

Overall for January-July, large corporations reported a 3.4% increase in credit demand, followed by small firms with a 2.4% increase and medium-sized enterprises a 0.5% drop.

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According to Serasa economists, July figures show that companies are setting the stage for an increase in production in the second half of the year, as they prepare for a seasonal increase in industrial activity in the country.