Brazil: Consumer confidence improves, but remains in negative territory in July
The seasonally-adjusted consumer confidence index published by the Getulio Vargas Foundation (FGV) rose to 78.8 in July from June’s 71.1 amid improved expectations over the economic recovery. Despite the upturn, the index still remained entrenched below the 100-point threshold, separating pessimism from optimism among consumers.
July’s improvement came on the back of consumers’ notably less negative assessment of the future economic situation. Moreover, households also grew slightly less pessimistic over the current economic situation compared to the previous month.