Brazil Consumer Confidence


Consumer confidence tumbles to new record low in October

In October, the consumer confidence index published by the Getulio Vargas Foundation (FGV, Fundaçao Getulio Vargas) fell a seasonally-adjusted 0.8% over the previous month, which followed the notable 5.3% decrease recorded in September. As a result, the index dropped from the 76.3 points tallied in September to 75.7 points in October, a new record low. The decline was driven by consumers’ more pessimistic views regarding the current economic situation compared to the previous month. However, consumers’ views regarding the future economic situation were unchanged.

The FGV confidence index spans a range from 1 to 200 points, where 100 points is considered neutral. As a result of the monthly drop, consumer confidence fell deeper into pessimistic territory. The index has followed a broadly-based downward trend from mid-2012 through the present.

FocusEconomics Consensus Forecast participants expect private consumption to fall 2.7% in 2015, which is down 0.5 percentage points from last month’s forecast. For 2016, panelists participating in the LatinFocus Consensus Forecast expect private consumption to contract 1.2%, which is down 0.6 percentage points from the previous month’s estimate.

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Brazil Consumer Confidence Chart

Brazil Consumer Confidence October 2015

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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