Brazil: Consumer confidence jumps to multi-year high in November
November 23, 2018
The seasonally-adjusted consumer confidence index published by the Getulio Vargas Foundation (FGV, Fundaçao Getúlio Vargas) jumped 8.2% from the previous month in November. Accordingly, the index increased to 93.2 points, the best reading since July 2014 (October: 86.1).
The rise was driven by consumers’ more optimistic assessment of the future economic situation along with less pessimistic views on the current economic situation. Moreover, the jump also likely reflects the reduction of political uncertainty with the end of the election cycle.
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.