Credit Spending Fuels Brazil Growth

By Nathan E Williams, Contributing Reporter

RIO DE JANEIRO, BRAZIL - The developed world remains in the grip of economic uncertainty and slow growth as consumers reduce spending, particularly the credit-driven spending which contributed first to the economic boom and ultimately, the bust. In Brazil, the picture could not be more different. In the midst of rising inflation consumers are showing no signs of moderating their spending habits, preferring to incur more credit-card debt to keep on spending.

While U.S. consumers were working to reduce their credit card balances last year by an average of 8.7 percent . . .

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