Brazil Consumer Confidence October 2016

Brazil

Brazil: Consumer confidence edges up in October

Consumer confidence in Brazil continued to improve in October, reaching the highest level since December 2014. The consumer confidence index published by the Getulio Vargas Foundation (FGV, Fundaçao Getúlio Vargas) rose a seasonally-adjusted 2.2% from the previous month, which followed the 1.6% increase recorded in September. This boosted the index from 80.6 points to 82.4 points. The improvement was driven by consumers’ relatively less pessimistic views regarding the current and future economic situations compared to the previous month.

The FGV confidence index spans a range from 1 to 200 points, where 100 points is considered neutral. Despite continued gains seen over the past months, consumer confidence remains firmly within pessimistic territory.

Panelists surveyed for this month’s LatinFocus report expect private consumption to fall 4.4% in 2016, which is unchanged from last month’s forecast. For 2017, panelists expect private consumption to rise 0.3%, which is down 0.1 percentage points from the previous month’s projection.


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Brazil Consumer Confidence October 2016

Note: Index of consumer sentiment (seasonally-adjusted). The 100-point threshold represents the point above which consumers expect economic conditions to improve.
Source: Getulio Vargas Foundation.


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