Brazil: Consumer confidence hits highest level since April 2014 in January
The seasonally-adjusted consumer confidence index published by the Getulio Vargas Foundation (FGV, Fundaçao Getúlio Vargas) rose to a multi-year high in January, continuing the recovery seen in recent months. The index came in at 96.6 points, above December’s 93.0.
The rise was driven by consumers’ more optimistic assessment of the current economic situation likely helped by recent gains in the labor market, low inflation and the reduction of political uncertainty with the end of the election cycle. However, consumers’ opinions of the future economic situation deteriorated in January.
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 entrenched in negative territory.