Brazil: Consumer confidence recovers slightly in July

The consumer confidence index published by the Getulio Vargas Foundation (FGV, Fundaçao Getúlio Vargas) rose a seasonally-adjusted 2.6% from the previous month in July, increasing to 84.2 from 82.1. The uptick was driven by consumers’ less pessimistic assessments of both the current and future economic situation.

The FGV confidence index spans a range from 1 to 200 points, where 100 points is considered neutral. Despite the minor improvement in July, the index remained entrenched in negative territory.

Brazil Private Consumption Forecast

Panelists surveyed for this month’s LatinFocus report expect private consumption to rise 2.3% in 2018, which is down 0.2 percentage points from last month’s forecast. For 2019, panelists expect private consumption to increase 3.0%.