Neurotech, a company specialized in data analysis, has released a concerning report about the credit situation in Brazil. According to the Neurotech Credit Demand Index (INDC), the search for financing in the country saw a significant drop of 18% in the first semester of 2024 compared to the same period last year.
Natália Heimann, leader of the Data & Analytics Business Unit for Credit at Neurotech, points out that this downward trend is not recent. ‘The credit demand has been operating in negative territory since August 2022, with few exceptions,’ she explains.
Sectorial analysis reveals that the financial sector had the smallest decline in June (-22%), followed by retail (-21%). Surprisingly, the services sector showed a positive growth of 30%. In the semester’s accumulation, retail was the most affected, with a 30% decline, while banks and financial institutions fell by 14%. The services sector remained resilient, with an 18% increase.
In retail, the supermarkets category was the only one to register growth (4%) in the first semester, indicating a prioritization of basic spending by consumers. Department stores were the most affected, with an impressive 61% decrease.
Natália Heimann does not see short-term improvement perspectives. ‘For the upcoming months, we do not foresee a significant reversal of this scenario, partly due to the high maintenance of the Selic rate,’ she states.
This scenario of a contraction in credit demand reflects the economic challenges faced by Brazilians, with income commitments and a focus on essential expenses. The situation requires attention from economic sectors and may indicate the need for measures to stimulate access to credit and boost the economy.
