Brazil defaults rise fastest in three years, Serasa says

Guillermo Parra-Bernal – Reuters, 8/17/2015

The number of unpaid utility bills, defaulted loans and bounced checks among Brazilian consumers jumped in the first seven months of 2015 at its fastest pace in three years due to rising borrowing costs and inflation, credit research company Serasa Experian said on Monday.

The Serasa Experian Consumer Default Index rose 16.8 percent from a year earlier, the biggest jump since 17.8 percent three years ago. On a monthly basis, corporate delinquencies surged 19.4 percent in July from a year earlier, Serasa said.

Bank defaults and unpaid bills led the increase in the index in the seven-month period, Serasa said.

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