Brazilian consumer satisfaction with the current situation worsened in November and confidence fell to its lowest level in five months, Fundação Getulio Vargas data released this Friday showed.
FGV’s consumer confidence index (CCI) fell 0.2 points over the month to 93.0 points, the lowest level since June this year (92.3 points).
“The result was influenced by a slight worsening of satisfaction with the current situation and the maintenance of expectations,” explains Anna Carolina Gouveia, economist at FGV IBRE, in a note.
The Current Situation Index (ISA) fell 0.4 points in November to 82.1 points, marking the second consecutive month of decline. The expectations index (IE) fell by 0.1 points to 100.8 points.
“There is a sharp decline in consumer confidence in the low-income classes, a recovery in the intermediate groups and stability in the highest class. These differences appear to be linked to greater economic difficulties for these families, more pessimistic prospects regarding employment, with a strong impact on their future financial situation and their ability to purchase durable goods”, underlined Gouveia.
Source: Terra
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