Brazil consumer defaults spike 4.8 pct in May -Serasa
SAO PAULO, June 15 (Reuters) - An index measuring consumer defaults in Brazil rose 4.8 percent in May from April, mostly due to rising interest rates, higher inflation and mounting unemployment, credit research company Serasa Experian said on Monday.
It was the sharpest monthly rise registered so far this year, Serasa said.
The average size of non-bank debts rose 4.9 percent in the month, while bank debts rose 5.5 percent.
Brazilians have been less willing to take on new debts as the economy slows, which has also made it harder 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 mark a recession this year as the government works to tighten spending. (Reporting by Asher Levine; Editing by Chizu Nomiyama)
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