Brazilian consumer confidence hits its highest level since the end of 2014, says FGV

The Getulio Vargas Foundation’s (FGV’s) Consumer Confidence index rose 3.5 points in March, reaching 85.3 points – its highest level since December 2014. During the month, measures of both the current situation and future expectations were positive.  “The March survey reinforces the upwards trajectory of consumer confidence, which was the reverse at the end of last year,” said Viviane Seda Bittencourt, Consumer Confidence Research Coordinator.

The current situation index rose 1.2 points to hit 71.5 points, while the future expectations index rose 5.1 points to reach 95.7 points. Assessments of the current economic situation improved for the third month. The indicator that measures consumer satisfaction with the local economic situation rose 2.0 points to 77.8 points.

Where consumers are more optimistic is with future expectations, with the indicator that measures the degree of optimism reaching its second highest level since the index began. “The results remain influenced by expectations of improvements, however, news that points towards economic recovery, may lead to a more consistent increase in the current measure for consumers over the next few months,” added Bittencourt.

Improvements in confidence also occurred in all income brackets, but the highlight was the recovery of confidence with a monthly family income between R$ 2,100.01 and R$ 4,800.00, with the index increasing by 5.1 points in relation to the previous month. This result was influenced by better expectations regarding their financial situation.

The March 2017 survey collected information from 2,042 households between March 2 and 22.

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