Brazil: Consumer confidence edges up in October
October 26, 2016
Consumer confidence in Brazil continued to improve in October, reaching the highest level since December 2014. The consumer confidence index published by the Getulio Vargas Foundation (FGV, Fundaçao Getúlio Vargas) rose a seasonally-adjusted 2.2% from the previous month, which followed the 1.6% increase recorded in September. This boosted the index from 80.6 points to 82.4 points. The improvement was driven by consumers’ relatively less pessimistic views regarding the current and future economic situations compared to the previous month.
The FGV confidence index spans a range from 1 to 200 points, where 100 points is considered neutral. Despite continued gains seen over the past months, consumer confidence remains firmly within pessimistic territory.