Brazil: Consumer confidence rises from record low
November 27, 2015
In November, the consumer confidence index published by the Getulio Vargas Foundation (FGV, Fundaçao Getulio Vargas) rose a seasonally-adjusted 1.3% over the previous month, which contrasted the 0.8% decrease recorded in October. As a result, the index rose from the record-low 75.7 points tallied in October to 76.7 points. The improvement was driven by consumers’ less pessimistic views regarding the current and future economic situations compared to the previous month.
The FGV confidence index spans a range from 1 to 200 points, where 100 points is considered neutral. Despite the monthly rise, consumer confidence remains deep into pessimistic territory.