SAO PAULO, Jan 13 (Reuters) - An index measuring consumer defaults in Brazil rose 6.3 percent in 2014, mostly due to rising interest rates, higher inflation and a weaker job market, credit research company Serasa Experian said on Tuesday.
The average size of non-bank debts rose 12.7 percent in the year, to 355.02 reais ($133.47) from 315.12 reais. Bank debts fell 3.3 percent to an average of 1,266.59 reais from 1,309.87 reais in 2013, Serasa said.
While Brazilians have been less willing to take on new debts, they have also found it hard to pay off existing loans. Consumer confidence is hovering at its lowest since the 2008 global financial crisis and Brazil’s economy is expected to post very little growth this year as the government works to tighten spending.
($1 = 2.66 Brazilian reais)
Reporting by Asher Levine