Brazilian companies' demand for credit dropped 5% in March
Demand for credit from Brazilian companies' dropped 5% in March compared to the same month in 2015.
According to credit research firm Serasa Experian, the decrease was mostly due to a 16.4% drop in demand from medium-sized companies. Demand from large companies saw a 12.7% drop, and there was a 4.4% decrease in demand from small and micro businesses.
The firm said that uncertainties over economic policy, the deepening recession and high interest rates continue to impact companies' appetite for credit.
When compared to February, there was a 15.3% increase in demand for credit due to the Carnival holiday. The first quarter of 2016 saw a 9.3% drop compared to the same period the previous year.
All economic sectors decreased their demand for credit in March, including the industrial sector (-5.7%), trade (-6.4%) and services (-3.4%).
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