CESEE: Consumer Loans Decline Considerably

Businessn.a. ♦ Published: September 29, 2013; 20:22 ♦ (Vindobona)

Since 2008, Austrian consumers tend to refrain from consumer credits. In the CESEE countries, the downward trend is even more obvious.

CESEE: Consumer Loans Decline Considerably / Picture: © Vindobona.org

In the last five years, the size of consumer credits has been falling substantially in the CESEE region. In the Baltic countries, the decline reached between 28% and 48%. In Hungary, Slovenia and Romania, consumers became more cautious too. In Austria, demand for consumer loans was down by 13.5% since 2008. On average, consumer loans amount to € 2,800 per head in Austria. Only in…