Brazil: Consumer confidence rises to highest level since January 2015
August 24, 2016
Consumer confidence continued to improve in August, 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 3.4% over the previous month, which followed the 7.6% increase recorded in July. This boosted the index from 76.7 points to 79.3 points, its highest level since January 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 August’s rise, consumer confidence remains firmly within pessimistic territory.