Brazil Consumer Confidence

Brazil

Brazil: Consumer confidence falls to record low

December 28, 2015

In December, the consumer confidence index published by the Getulio Vargas Foundation (FGV, Fundaçao Getulio Vargas) fell a seasonally-adjusted 2.0% over the previous month, which contrasted the 1.3% increase recorded in November. As a result, the index fell from 76.7 points to the record-low 75.2 points in December. The deterioration was driven by consumers’ more pessimistic views regarding the current and future economic situations compared to the previous month and comes against a backdrop of economic gloom in the country.

The FGV confidence index spans a range from 1 to 200 points, where 110 points is considered neutral. As a result of December’s reading, consumer confidence remains deep in pessimistic territory.

Panelists surveyed for this month’s LatinFocus report expect private consumption to fall 2.9% in 2016, which is down 0.3 percentage points from last month’s forecast. For 2017, panelists expect private consumption to grow 0.7%.


Author: Angela Bouzanis, Senior Economist

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Brazil Consumer Confidence Chart


Brazil Consumer Confidence December 2015

Note: Index of consumer sentiment (seasonally adjusted). The 110-point threshold represents the point above which consumers expect economic conditions to improve.
Source: Getulio Vargas Foundation.


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