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Brazil: consumer confidence reaches the highest level since October 2022, says FGV-Ibre

The Consumer Confidence Index (ICC) of the Brazilian Institute of Economy of the Getulio Vargas Foundation (FGV-Ibre) rose 1.4 points in May to 88.2 points, the highest level since October 2022, when it registered 88.6 points.

In quarterly moving averages, the index increased for the second consecutive month, now by 1.2 points, to 87.3 points.

According to FGV-Ibre economist Anna Carolina Gouveia, consumer confidence was motivated by improved expectations for the coming months after the accommodation in April.

This draw was also widespread among income brackets, except for families with higher purchasing power . . .

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