Brazil: Consumer confidence rises in June
June 27, 2016
In June, the consumer confidence index published by the Getulio Vargas Foundation (FGV, Fundaçao Getulio Vargas) rose a seasonally-adjusted 5.0% over the previous month, which followed the 5.4% increase recorded in May. As a result, the index increased from 67.9 points to 71.3 points, its highest level since June 2015. The improvement was driven by consumers’ less pessimistic views regarding the future economic situation compared to the previous month.
The FGV confidence index spans a range from 1 to 200 points, where 100 points is considered neutral. Despite June’s rise, consumer confidence remains at historic lows and is deep within pessimistic territory.
Author: Christopher Mc Innes, Economist