Brazil: Consumer confidence remains stable in April
April 24, 2013
The consumer confidence index published by the Getulio Vargas Foundation (FGV, Fundacao Getulio Vargas) was unchanged at 113.9 points in April, after falling for six consecutive months. The reading reflects how a deterioration in households' assessment of the current economic situation was offset by an improvement in future expectations.
The FGV confidence index has a range spanning from 1 to 200 points, where 100 points is considered neutral. At the current level, consumer confidence still sits comfortably above the 100-point threshold, which suggests sustained growth in private consumption going forward.
LatinFocus Consensus Forecast participants expect private consumption to expand 3.7% in 2013, which is down 0.2 percentage points from last month's forecast. For 2014, panellists expect private consumption to increase 3.9%.