Consumer credit boosts GDP growth in 2024

Consumer credit boosts GDP growth in 2024
Consumer credit boosts GDP growth in 2024
-

The Central Bank raised its projection for an increase in free credit for individuals in 2024 to 10%

April 1, 2024, 5:57 am

Support 247Google News

✅ Receive news from Brasil 247 and TV 247 on Brazil channel 247 and on community 247 on WhatsApp.

247 – Credit concessions more linked to consumption have registered a notable increase, which is contributing to more optimistic estimates of economic expansion this year. According to data from PicPay, in January, free credit to individuals associated with consumption rose 14.4% compared to the same period of the previous year, while credit more linked to debt increased by 7.1%. The Central Bank also raised its projection for an increase in free credit for individuals in 2024 from 9% to 10%, indicating a favorable environment for consumption, according to report of Value.

PicPay’s chief economist, Marcos Caruso, points out that the current scenario reflects an improvement in the confidence of both families and financial institutions in relation to taking and offering credit. The decrease in the basic interest rate (Selic) and the improvement in default rates are among the factors driving this recovery.

CONTINUES AFTER AD

The BC’s Monetary Policy Committee (Copom) mentioned in its March minutes the “credit cycle in the recovery phase” as one of the elements that should support “resilient consumption”. Itaú Unibanco also revised its growth estimates, raising its forecast for GDP expansion in 2024 from 1.8% to 2%, highlighting a more positive outlook for credit concessions, especially for individuals and the housing sector.

iBest: 247 is the best political channel in Brazil in terms of popular vote

Subscribe to 247,support by Pix,subscribe to TV 247, in the channel Cuts 247 and watch:

The article is in Portuguese

Tags: Consumer credit boosts GDP growth

-

-

PREV Only 2 companies use 100% clean energy in electric buses – 04/01/2024 – Daily life
NEXT The most recommended actions for April; LREN3 and WEGE3 enter and VIVA3 leaves the list