Brazil: Consumer confidence rises towards November 2010 peak
February 24, 2011
The consumer confidence index published by the Getulio Vargas Foundation (FGV, Fundacao Getulio Vargas) rose a seasonally adjusted 0.8% over the previous month to reach 122.6 points in February. At the current level, the index is 10.9% higher than in the same month the year before and further approaches the historic high of 124.2 points recorded in November 2010. The FGV index has a range of 1 to 200 points, where 100 points is neutral. The increase was broad-based, as consumers' assessment of both the current and future economic situation improved over the previous month. The rise in consumer sentiment bodes well for a resilient expansion in private consumption in the first quarter of 2011.