Brazil Consumer Confidence

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Brazil: Consumer confidence falls in October

October 24, 2014

In October, the consumer confidence index published by the Getulio Vargas Foundation (FGV, Fundaçao Getulio Vargas) decreased a seasonally-adjusted 1.5% over the previous month, which contrasted the 0.7% improvement recorded in September. The index fell from the 103.0 points tallied in September to 101.5 points in October, which marked the lowest level since April 2009. The figure was a result of a deterioration in both consumers’ future outlook on the economy and their current economic situation indexes 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.

LatinFocus Consensus Forecast participants expect private consumption to expand 1.4% in 2014, which is down 0.3 percentage points from last month’s forecast. For 2015, panelists expect private consumption to increase 1.7%.


Author: Angela Bouzanis, Senior Economist

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Brazil Consumer Confidence Chart


Brazil Consumer Confidence October 2014

Note: Index of consumer sentiment (seasonally adjusted). The 100-point threshold represents the point above which consumers expect economic conditions to improve.
Source: Getulio Vargas Foundation.


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