Brazil Consumer Confidence January 2016

Brazil

Brazil: Consumer confidence rises to five-month high in January

January 27, 2016

In January, the consumer confidence index published by the Getulio Vargas Foundation (FGV, Fundaçao Getulio Vargas) rose a seasonally-adjusted 3.8% over the previous month, which contrasted the 3.0% decrease recorded in December. As a result, the index increased from the 65.4 points tallied in December to 67.9 points, which marked the highest result in five months. The improvement was driven by consumers’ less pessimistic views regarding the current and future economic situations compared to the previous month. Despite the positive result, the index still lies at historic lows against a backdrop of economic gloom in the country.

The FGV confidence index spans a range from 1 to 200 points, where 100 points is considered neutral. Despite January’s improvement, consumer confidence still remains deep in pessimistic territory.

The FGV revised its methodology for calculating the consumer confidence index in January 2016.

Panelists surveyed for this month’s LatinFocus report expect private consumption to fall 3.1% in 2016, which is down 0.5 percentage points from last month’s forecast. For 2017, panelists expect private consumption to grow 0.5%.


Author: Angela Bouzanis, Senior Economist

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Brazil Consumer Confidence January 2016 0

Note: Index of consumer sentiment (seasonally adjusted). The 100-point threshold represents the point above which consumers expect economic conditions to improve.
Source: Getulio Vargas Foundation.


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