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| Monday 22 February 2010 |
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Falls historic for consumer credit
This is a story that should delight many consumer groups, the consumer credit in 2009 would have a loss of speed history. On the whole past year, the French association of financial firms (FSA) stated yesterday by voice communicated that the aggregate amount so distributed would have declined by 13.3%, the largest decline in 45 years.
Battered by the crisis, a difficult economic environment, and logic necessary budget, the French have thus gradually turned away from a relatively heavy item of expenditure: recourse to consumer credit. In the opinion of the FSA, the 'decline is unprecedented in 45 years of statistical monitoring of the activity. Over the last twelve months, the sector of consumer credit thus registered eleven months of decline (compared to same month the previous year) to finally show a decline of 13.3% over the whole of 2009 . If in 2008 some 43.8 billion euros have been allocated through an appropriation of this type (credit car, motorcycle, personal loan, etc..), The FSA has identified that only 38 billion in 2009.
Considered by many (consumer in mind) as one of the main vectors of indebtedness, credit for consumption this year found itself facing a double problem. A growing distrust shown by households was indeed associated with the lending agencies which, before the increase in arrears, have sometimes limited their offerings. According to Nicolas Pécourt, director of studies at Sofinco, they have not given up on the consumer credit, the French, however, lowered the average amount borrowed (-10% compared to 2008). "France is a country where the debt remains relatively low, but the theme of the indebtedness focused attention. This, added to the crisis, has made the market very complicated ", explained to AFP Pascal Roussarie Cetelem.
In detail, only the contracted car loan when buying a new car seems to limit the damage by even showing a sharp rebound in the last quarter of 2009 (+15.7%). For the full year, credit car displays a limited reduction of -4%. Personal loans, credit provided to equip their homes and revolving credit for their part accuse a decline respective -22.8%, -13.3% and -11.2%.
(Source: www.diagnostic-expertise.com) |
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