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CESEE: Consumer Loans Decline Considerably
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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…
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