Brazil: Consumer confidence rises in May
May 24, 2016
In May, the consumer confidence index published by the Getulio Vargas Foundation (FGV, Fundaçao Getulio Vargas) rose a seasonally-adjusted 5.4% over the previous month, which contrasted the 4.0% decrease recorded in April. As a result, the index increased from the 64.4 points tallied in April to 67.9 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 May’s rise, consumer confidence remains at historic lows and deeply into pessimistic territory.