Brazil Consumer Confidence November 2018

Brazil

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.

Panelists surveyed for this month’s LatinFocus report expect private consumption to rise 2.7% in 2019, which is unchanged from last month’s forecast. For 2020, panelists expect private consumption to increase 2.8%.


Author: Angela Bouzanis, Lead Economist

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Brazil Consumer Confidence November 2018

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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