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.