Brazil: Consumer confidence rises in October
The seasonally-adjusted consumer confidence index published by the Getulio Vargas Foundation (FGV, Fundaçao Getúlio Vargas) jumped 4.9% from the previous month in October, increasing to 86.1 (September: 82.1). The rise was driven by consumers’ less pessimistic assessments 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 entrenched in negative territory.