Brazil Consumer Confidence July 2016

Brazil

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.

Panelists surveyed for this month’s LatinFocus report expect private consumption to fall 4.6% in 2016, which is down 0.2 percentage points from last month’s forecast. For 2017, panelists expect private consumption to rise 0.2%.


Author: Angela Bouzanis, Senior Economist

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Brazil Consumer Confidence July 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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