Brazil Consumer Confidence February 2016

Brazil

Brazil: Consumer confidence rises to six-month high in February

February 26, 2016

In February, the consumer confidence index published by the Getulio Vargas Foundation (FGV, Fundaçao Getulio Vargas) rose a seasonally-adjusted 3.2% over the previous month, which followed the 2.3% increase recorded in February. As a result, the index improved from the 66.4 points tallied in January to 68.5 points, which marked the highest result in six 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 remains 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 February’s improvement, consumer confidence still remains deep in pessimistic territory. The FGV revised its seasonally-adjusted series in February; changes in historical data are due to this revision.

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 Chart


Brazil Consumer Confidence February 2016

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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