Brazil: Consumer confidence deteriorates in April
April 24, 2018
The consumer confidence index published by the Getulio Vargas Foundation (FGV, Fundaçao Getúlio Vargas) fell a seasonally-adjusted 2.8% from the previous month in April, decreasing from 92.0 in March to 89.4. The deterioration was driven by consumers’ more pessimistic outlook on the future economic situation, with confidence falling to the lowest level in eight months. Households’ assessment of the current economic situation was broadly stable in April.
The FGV confidence index spans a range from 1 to 200 points, where 100 points is considered neutral. Despite a notable improvement in consumer confidence over the past year, the index still lies in pessimistic territory.
Brazil Private Consumption Forecast
Panelists surveyed for this month’s LatinFocus report expect private consumption to rise 2.9% in 2018, which is unchanged from last month’s forecast. For 2019, panelists expect private consumption to rise 3.0%.