Brazil: Consumer confidence edges up in September
September 24, 2014
In September, the consumer confidence index published by the Getulio Vargas Foundation (FGV, Fundaçao Getulio Vargas) increased a seasonally-adjusted 0.7% over the previous month, which contrasted the 4.3% contraction recorded in August. The index rose from the 102.3 points tallied in August to 103.0 points in September. The figure was a result of an improvement in consumers’ future outlook on the economy compared to the previous month.
The FGV confidence index spans a range from 1 to 200 points, where 100 points is considered neutral. While consumer confidence has hovered above the 100-point threshold, indicating optimism, it had followed an almost uninterrupted downward trend from mid-2012 until May of this year.