Brazil: Consumer confidence rises to highest level since February 2015
July 26, 2016
Consumer confidence continued to improve in July, building on the gains seen in recent months. The consumer confidence index published by the Getulio Vargas Foundation (FGV, Fundaçao Getúlio Vargas) rose a seasonally-adjusted 7.6% over the previous month, which followed the 5.0% increase recorded in June. This boosted the index from 71.3 points to 76.7 points, its highest level since February 2015. The improvement was driven by consumers’ relatively less pessimistic views regarding the current and 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 July’s rise, consumer confidence remains firmly within pessimistic territory.