Brazil: Consumer confidence rebounds slightly in October
October 27, 2011
The consumer confidence index published by the Getulio Vargas Foundation (FGV, Fundacao Getulio Vargas) increased a seasonally adjusted 0.4% over the previous month to reach 115.2 points in October, which was above the 114.7 points registered in September. The subtly higher confidence reading in October reflected a more optimistic assessment of expectations (+1.9% month-on-month), while optimism concerning the current economic situation diminished (-1.6% mom). The FGV confidence index has a range spanning 1 to 200 points, where 100 points is considered neutral. At the current levels, the consumer confidence index remains well above the 100-point threshold, which suggests sustained growth in private consumption for the remainder of this year.