Brazil: Consumer confidence up slightly in September
September 24, 2013
In September, the consumer confidence index published by the Getulio Vargas Foundation (FGV, Fundacao Getulio Vargas) rose a seasonally-adjusted 1.0% over the previous month, which was below the 4.4% increase registered in August. The index reached 114.2 points, marking the highest level in seven months. September's rise reflects that households have a slightly more positive assessment of both the current economic situation and expectations for the future.
The FGV confidence index range spans from 1 to 200 points, where 100 points is considered neutral. Consumer confidence remains above the 100-point threshold, which suggests sustained growth in private consumption going forward.
LatinFocus Consensus Forecast participants expect private consumption to expand 2.2% in 2013, which is down 0.3 percentage points from last month's forecast. For 2014, panelists expect private consumption to increase 2.5%, which is down 0.5 percentage points from last month's projection.
Author: Carl Kelly, Economist