The consumer credit market opened the year 2022 with a real growth of 4% compared to a year agoand with a recovery in recent months, which has not been sustained, but has had oscillations, maintains the Consumer Credit Market Monitor of the firm Pronto! released this Monday. he stock of credit to families exceeded US$ 7 billion in December and is growing underpinned by a strong increase in non-mortgage loans, he points out.
The report reflects that there isno trend of reactivation, accompanied by a macroeconomic context that continues to show signs of recovery, with output growth rates for 2021 and 2022 well above pre-pandemic levels. To this is added a stabilization in the levels of contagion of covid-19 after several weeks of summer with high peakswhich affected to a certain extent the mobility and payment capacity of users of the financial system (in the segment of non-bank credit companies).
“The market moves with an increase in demand levels that is driven by an improvement in consumer expectations and a labor market that continues to show signs of stabilization, with relatively low levels of unemployment rate,” says the report. quarterly.
As for the evolution of the market defaulta very slight growth, measured as a proportion of overdue loans. “In the future, if the macro conditions are maintained, particularly the stability in the labor market and the dynamism of demand, a very stable payment behavior would be expected,” says the report.
future indebtedness
36% of the total respondents expressed their intention to contract a purchase order or a cash loan in the next 4 months. Among those who would hire, 39% responded affirmatively to the question of whether, if they applied for a cash loan today, they believe they would be granted it. On the other hand, 71% of those who showed a propensity to hire in the next 4 months considered that they are currently in debt.
About the destination of loans or future purchase orders they would be mainly for: paying bills (25.4%); renovate the home (21.1%); vehicle purchase or repair (8.5%); pay other loans or cards (8.5%); pay services such as UTE, OSE, Antel (7.6%); and buy groceries (5.9%); among others.
Meanwhile, those who said they would not hire in the next four months They stated that they would not do it because: they do not need it (40.2%); they do not know if they could pay the installments (10.4%); they do not like to contract debts (9.5%); they do not want to incur more debt than they already have (7.6%); they present unemployment or job instability (5.6%); among other reasons.
On the other hand, the information by contracted product shows that the greatest difficulties were experienced by those who have at least one current cash loan since 46% of them stated that they had had some difficulty in covering their payments in the last 4 months.
The quarterly survey included people over 18 years of age residing in Montevideo, metropolitan area or interior, Facebook and Instagram users. The sample comprised 999 cases.
