SAO PAULO, Jan 12 (Reuters) - Demand for consumer loans in Brazil dropped 0.5 percent in 2014 as Brazilians worked to pay off existing debts in an environment of rising interest rates and falling consumer confidence, credit research company Serasa Experian said on Monday.
Demand for consumer credit has been weak since 2012, following a consumer boom in which loan demand rose 7.5 percent in 2011 and 16.4 percent in 2010.
Serasa said the sharpest decrease in credit demand last year was among the lowest earners, while credit demand was stable or rising among the so-called emerging middle class.
Brazil’s top earners reduced their demand for loans by about 3.9 percent, Serasa added. (Reporting by Asher Levine; Editing by Lisa Von Ahn)