Brazil: Consumer confidence rises in November
November 25, 2011
The consumer confidence index published by the Getulio Vargas Foundation (FGV, Fundacao Getulio Vargas) increased a seasonally adjusted 3.3% over the previous month to reach 119.0 points in November, which was above the 115.2 points registered in October. The higher confidence reading in November reflected a more optimistic assessment of the current economic situation (+5.2% month-on-month) as well as improved expectations (+2.0% mom). The FGV confidence index has a range spanning 1 to 200 points, where 100 points are considered neutral. At the current level, the consumer confidence index remains well above the 100-point threshold, which suggests sustained growth in private consumption for the remainder of this year.