Survey indicates Brazilian consumers more confident

Cristina ìndio do Brasil

Reporter - Agência Brasil

Rio - The Getúlio Vargas Foundation's (FGV) Consumer Confidence Index (ICC) rose 0.6% in December compared with November. The ICC, which is calculated on the basis of five items included in the Survey of Consumer Expectations, went from 103.0 in November to 103.6 in December. The survey was carried out during the period December 1-22.

Consumers' assessments of the current situation improved between the two months. The index that reflects these assessments increased from 100.9 in November to 104.5 in December.

Evaluations of the family's financial situation also showed signs of progress. According to the study, the share defining their present condition as good rose from 18.6% to 21%, while those who regarded their present condition as poor decreased from 20.1% to 16.8%.

Concerning the future, however, the trend was in the opposite direction. The Index of Expectations fell in relation to November from 104.2 to 103.2.

The percentage of consumers who believe the economy will get better in the cities where they reside declined from 23.9% to 23.5%. Those who expect things to get worse increased from 17.4% to 19.6%.

The Survey of Consumer Expectations is based on a sample of consumers who live in 2000 homes in the seven major Brazilian capitals.

Translation: David Silberstein