Decrease in credit demand during first quarter

Jamaicans tempered their demand for credit during the January to March quarter this year.

Growth in credit demand, as measured by the Credit Demand Index (CDI), decelerated, relative to the December 2018 quarter .

The CDI for the quarter was 100.7 relative to 109.6 in the previous three months.

The Bank of  Jamaica says the deceleration stemmed from lower demand for business loans, which was partially offset by an acceleration in demand for personal loans.

Lenders reported that the deceleration in the CDI was influenced by changes in business activity and lending rates.

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