Brazil: Consumer sentiment ticks up in May, but remains in negative territory
The seasonally-adjusted consumer confidence index published by the Getulio Vargas Foundation (FGV) rose to 62.1 points in May from the historic low of 58.2 points in April. Despite this uptick, the index remained entrenched below the 100-point threshold separating consumer pessimism from optimism.
May’s improvement chiefly reflected household’s less pessimistic view of future conditions. Meanwhile, consumers’ assessment of the current economic conditions worsened slightly compared to the previous month.