Brazil: Consumer confidence rebounds in February
February 24, 2012
The consumer confidence index published by the Getulio Vargas Foundation (FGV, Fundacao Getulio Vargas) increased a seasonally adjusted 2.9% over the previous month to reach 119.4 points in February, which was above the 116.0 points registered in January. The higher reading reflected a more optimistic assessment of the current economic situation as well as improving future expectations. The FGV confidence index has a range spanning from 1 to 200 points, where 100 points is considered neutral. At the current level, the consumer confidence index sits comfortably above the 100-point threshold, which suggests sustained growth in private consumption going forward.