Consumer confidence in Brazil falls, reaches lowest level since April

RIO DE JANEIRO, BRAZIL – The Consumer Confidence Index (ICC), measured by the Getulio Vargas Foundation (FGV), dropped 1.4 points from October to November this year. With the result, the indicator reached 74.9 points, on a scale of zero to 200 points, the lowest value since April this year (72.5 points).

Confidence was affected by the worsening of the Present Situation Index, which evaluates the present, as well as the Expectations Index, which assesses the future.

The Present Situation Index fell 2.1 points to 66.9 points. The Expectations Index dropped 1 point to 81.4 points.

“Despite the advance of vaccination [against Covid-19], and relaxation of restrictive measures, the increased economic uncertainty in the face of high inflation, restrictive monetary policy and greater indebtedness of low-income families make the situation still uncomfortable and the prospects still full of threats,” explained FGV researcher Viviane Seda Bittencourt to Agencia Brasil.

With information from Agencia Brasil

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