RIO DE JANEIRO, BRAZIL – The Household consumer spending intention (ICF), as measured by the National Confederation of Trade in Goods, Services, and Tourism (CNC), fell 1.7 percent from June to July this year and reached 89.8 points, on a scale of zero to 200 points — the fifth consecutive monthly drop in the indicator.
The seven ICF components dropped, particularly in terms of consumption (3.2 percent) and the moment deemed appropriate for the purchase of durable goods (3.8 percent).
“The variation of 1.7 percent shows, for the fifth time, the drop in the index, pointing to a certain discontent of families with respect to the economic moment, a certain frustration in relation to the beginning of the year and also to the fact that they are very cautious in relation to spending,” said Antonio Everton, a researcher at CNC.
Compared to July 2018, however, there was a 5.5 percent increase in the indicator. In this type of comparison, the seven components reached a high, with emphasis on the current level of consumption (10.8 percent).