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Brazil’s consumer confidence remains high in September

September 24th, 2009

CCIBrazil’s Consumer Confidence Index (ICI) hit 111 points in September, the same as August, according to a survey released on Wednesday by the Getulio Vargas Foundation (FGV).

According to the FGV, the figures confirm that Brazilian consumers are moderately optimistic about the country’s economy in the short term. In the same period in 2008, at the beginning of the international financial crisis, the ICI was at 112.2 points.

The ICI is formed by two different indicators, the present situation index (ISA) and the expectations index (IE). In September, the ISA rose from 114 to 114.5 points, while the IE registered a slight decrease, from 109.4 to 109.1 points.

According to the survey, 19.1 percent of Brazilians reported a good economic situation in their families, up from 18.6 percent in August. Those who said their families’ economic situation is bad totaled 13.5 percent, from 13.7 percent in August. The news figures have been the best since the international financial crisis started a year ago.

However, Brazilians are still cautious on whether their economic situation will remain good in the future. A total of 4.6 percent of them believe their families’ economic situation will worsen in the near future, up from 4.3 percent in August. On the other hand, the share of Brazilians who believe their families’ economic situation will improve fell from 33 to 31.7 percent in September.

The FGV survey was carried out between Aug. 31 and Sep. 18, in over 2,000 households in seven of Brazil’s largest metro areas.


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