Brazil: Consumer confidence rises in June

The seasonally-adjusted consumer confidence index published by the Getulio Vargas Foundation (FGV, Fundaçao Getúlio Vargas) rose in June. The index came in at 88.5 points, above May’s 86.6. The rise was driven by consumers’ more optimistic assessment of the future economic situation.

The FGV confidence index spans a range from 1 to 200 points, where 100 points is considered neutral. Despite improvements over the past two years the index remains in negative territory.

Brazil Private Consumption Forecast

LatinFocus panelists expect private consumption to rise 1.7% in 2019, which is unchanged from last month’s forecast. For 2020, panelists expect private consumption to increase 2.9%.