Brazil: Consumer confidence rises to five-month high in January
January 27, 2016
In January, the consumer confidence index published by the Getulio Vargas Foundation (FGV, Fundaçao Getulio Vargas) rose a seasonally-adjusted 3.8% over the previous month, which contrasted the 3.0% decrease recorded in December. As a result, the index increased from the 65.4 points tallied in December to 67.9 points, which marked the highest result in five months. The improvement was driven by consumers’ less pessimistic views regarding the current and future economic situations compared to the previous month. Despite the positive result, the index still lies at historic lows against a backdrop of economic gloom in the country.
The FGV confidence index spans a range from 1 to 200 points, where 100 points is considered neutral. Despite January’s improvement, consumer confidence still remains deep in pessimistic territory.
The FGV revised its methodology for calculating the consumer confidence index in January 2016.