Brazil Consumer Confidence


Brazil: Consumer confidence rebounds from over-five-year low in June

June 27, 2014

In June, the consumer confidence index published by the Getulio Vargas Foundation (FGV, Fundaçao Getulio Vargas) increased a seasonally-adjusted 1.0% over the previous month, which contrasted the 3.3% fall recorded in May. The index rose from the 102.8 points tallied in May to 103.8 points in June on an across-the-board improvement. Consumers’ expectations regarding their current economic situations increased at the fastest pace in nine months, whereas their expectations for future conditions tallied the strongest improvement in seven months.

The FGV confidence index spans a range from 1 to 200 points, where 100 points is considered neutral. While consumer confidence is still above the 100-point threshold indicating optimism, the virtually-uninterrupted downward trend that has been in place since the index reached its peak in April 2012 (notwithstanding this month’s improvement), does not bode well for growth in private consumption going forward.

LatinFocus Consensus Forecast participants expect private consumption to expand 2.1% in 2014, which is down 0.2 percentage points from last month’s forecast. For 2015, panelists expect private consumption to increase 2.1%.


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Brazil Consumer Confidence Chart

Brazil Consumer Confidence June 2014

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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