Brazilian consumer confidence rose for the fourth consecutive time in September as expectations for the coming months improved, despite a slight decline in perceptions of the current situation, data from Fundação Getúlio Vargas released on Tuesday showed.
The consumer confidence index (CCI) rose by 0.5 points in September, reaching 93.7 points, after increasing by 0.3 points in August.
“Consumer confidence has been gradually increasing since June this year, mainly influenced by expectations for the coming months. In September, there was a slight worsening of perceptions about the current situation,” said Anna Carolina Gouveia, economist at FGV IBRE.
In September, the expectations index (IE) increased by 0.8 points to 102.2 points, also recording the fourth consecutive increase.
The Current Situation Index (ISA), on the other hand, fell by 0.2 points in the month, to 81.7 points, after four months without recording a decline.
The increase in the CCI was mainly due to the increase in the component relating to the dynamics of purchases of durable goods, which increased by 2.3 points to 90.1 points, the highest level since February this year (95.0 points).
In September, however, the component relating to the perception of households’ personal finances fell by 0.8 points, to 69.9 points, the lowest level since May of this year (69.3 points).
“The resilience of domestic activity has supported the upward trend in consumer confidence, but the slow recovery reflects the still fragile perception of personal finances,” Gouveia said.
Source: Terra
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