Brazil: Consumer confidence improves in August
The seasonally-adjusted consumer confidence index published by the Getulio Vargas Foundation (FGV, Fundaçao Getúlio Vargas) rose in August. The index came in at 89.2 points, above July’s 88.1 points bust still pointing to pessimistic conditions overall. The rise was driven by consumers’ less pessimistic assessment of the current economic situation.
The FGV confidence index spans a range from 1 to 200 points, where 100 points is considered neutral. Despite improvements over the past two years the index remains in negative territory.