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Brazil: Consumer confidence hits six-month high in November

Staff Writer |
The consumer confidence index in Brazil, published by the Getulio Vargas Foundation (FGV, Fundaçao Getúlio Vargas), increased a seasonally-adjusted 3.7% from the previous month in November.

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The index rose from October’s 83.7 to 86.8. The improvement was driven by consumers’ less pessimistic views regarding both the current and future economic situations compared to the previous month.

The FGV confidence index spans a range from 1 to 200 points, where 100 points is considered neutral. Despite recent gains, the index still lies deep in pessimistic territory.

Panelists surveyed for this month’s LatinFocus report expect private consumption to rise 2.3% in 2018, which is unchanged from last month’s forecast. For 2019, panelists expect private consumption to rise 2.5%.

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