Brazil: Consumer confidence hits over two-year high in January
The consumer confidence index published by the Getulio Vargas Foundation (FGV, Fundaçao Getúlio Vargas) rose a seasonally-adjusted 0.5% from the previous month in January. The index rose from December’s 88.4 to 88.8—the best reading since October 2014. The improvement was driven by consumers’ less pessimistic views regarding the current 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. Despite recent gains, the index still lies deep in pessimistic territory.