Consumer confidence at its highest in 1 year

27 de junho de 2016

Rio de Janeiro – The Consumer Confidence Index (ICC), measured by Fundação Getulio Vargas (FGV), went from 67.9 points in May to 71.3 points in June, an increase of 3.4 points. It’s ICC’s highest level since June 2015. The data was released this Monday (27). According to the survey, the increase is due solely to the improvement of consumers’ future expectations, since the indicators that measure the current situation remained stable.

In June, the Expectation Index (IE) climbed up six points, reaching 77.1 points, the highest level since it went to 81.7 points in January 2015. Meanwhile, the Current Situation Index (CSI) remained practically stable, going down 0.8 percentage point, between May and June and recording 64.7 points.

In her assessment, the coordinator of FGV’s Consumer Survey, Viviane Bittencourt, says that there was “a detachment” between consumers’ expectations for the next few months and their satisfaction levels with the current situation.

“While the former (expectation) is going up significantly for the second consecutive month, the other revisits the historical minimum. Considering that consumer confidence is standing low in historical terms, that the economy’s recovery should happen slowly and that families are still very much committed to debts taken last year, I believe that we will still see some quarters registering a decline in families’ consumption before we go back to positive territory”, said the coordinator.

*Translated by Sérgio Kakitani