Brazil: Consumer sentiment continues to improve in June
The seasonally-adjusted consumer confidence index published by the Getulio Vargas Foundation (FGV) increased to 71.1 points in June from 62.1 points in May. However, the index remained mired below the 100-point threshold separating consumer pessimism from optimism.
June’s upturn was largely driven by households’ less negative assessment of future economic conditions, likely reflecting their expectations that easing of social distancing measure will improve labor market conditions. Moreover, consumers’ appraisal of current conditions also turned less pessimistic compared to the previous month.