Consumer credit: production fell in August (ASF)
The production of consumer credit recorded by the ASF was again negative in August. The association, which covers almost 60% of the market in France, nevertheless sees signs of stabilization.
A 3.3% drop in production over one year
After a brief increase in July (+ 4.3%), the production of consumer loans by establishments belonging to the Association of Financial Companies (ASF) reached 2,496 million USD in the month of August 2012, a decrease of 3.3% compared to August 2011.
In cumulative data, since the start of 2012, the total production of these loans thus amounted to 23.442 billion USD, a difference of -5.9% compared to the production recorded for the first 8 months. from 2011.
As a reminder, the member companies of the ASF cover almost 60% of consumer loans in France, the monthly balance sheet carried out by the ASF therefore paints a fairly representative picture of the activity linked to these loans.
Slight signs of stabilization of production
For the ASF, this monthly assessment is not intended to be negative, the association observing slight signs of stabilization.
“For the first time since May 2011, the average development over the last three months thus returns – even timidly: + 0.3% – to positive territory,” notes the ASF.
The association of financial companies also highlights a certain balance “in terms of mobile annual cumulation”. According to the ASF, “the fall in production appears to have been halted and has since May balanced around 36.4 / 36.5 billion USD, an amount which remains however nearly -20% lower than the high point reached in September 2008 “.
Restricted funding up
With respectively 896 million USD and 761 million USD, revolving loans and personal loans represent the majority of consumer loans produced in August.
This production is also down, in annual variation, for these two categories up to:
- -6.0% over the month and – 7.6% over the whole of 2012 for revolving loans;
- -4.9% and -8.3% for personal loans.
The funding earmarked posted an increase in August 2012 compared to August 2011 (+ 2.6%) with 686 million USD. In cumulative data over 8 months, production for these loans remained negative by 2.6% compared to the same period a year earlier.