Brazil Consumer Confidence

Brazil

Brazil: Consumer confidence falls to new record low in August

August 28, 2015

In August, the consumer confidence index published by the Getulio Vargas Foundation (FGV, Fundaçao Getulio Vargas) fell a seasonally-adjusted 1.7% over the previous month, which followed the 2.3% decrease recorded in July. As a result, the index dropped from the 82.0 points tallied in July to 80.6 points in August, a new record low. The decline was driven by more pessimistic views regarding the future economic situation compared to the previous month.

The FGV confidence index spans a range from 1 to 200 points, where 100 points is considered neutral. As a result of the monthly drop, consumer confidence fell slightly deeper into pessimistic territory. The index has followed a broadly-based downward trend from mid-2012 through the present.

LatinFocus Consensus Forecast participants expect private consumption to expand 0.2% in 2015, which is unchanged from last month’s forecast. For 2016, panelists expect private consumption to increase 0.9%.


Author: Angela Bouzanis, Senior Economist

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Brazil Consumer Confidence Chart


Brazil Consumer Confidence August 2015

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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