Brazil: Consumer confidence eases from multi-year high in February

The seasonally-adjusted consumer confidence index published by the Getulio Vargas Foundation (FGV, Fundaçao Getúlio Vargas) eased slightly in February, but still remained at a high level compared to the past three years. The index came in at 96.1 points, below January’s 96.6. January’s reading had marked the best result since April 2016.

The fall was driven by consumers’ less optimistic assessment of the future situation, while their assessment of the current economic situation improved somewhat.

The FGV confidence index spans a range from 1 to 200 points, where 100 points is considered neutral. Despite improvements over the past two years the index remains in negative territory.

Brazil Private Consumption Forecast

LatinFocus panelists expect private consumption to rise 2.6% in 2019, which is unchanged from last month’s forecast. For 2020, panelists expect private consumption to increase 2.8%.