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Brazil consumer confidence rises in January

Staff writer |
Consumer confidence in Brazil increased in January compared to the previous month, but not to a level that indicates economic recovery.

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Brazil's main consumer-confidence index was at 67.9 points, up from 65.4 points in December, when it reached the lowest point since the data began to be compiled in 2005, the Getulio Vargas Foundation, or FGV, said.

The index has a one-to-200-point range, with 100 considered an indicator of neutral sentiment.

"With confidence levels still very unfavorable regarding the current economic scenario and persistent pessimistic expectations for the coming months, it is early to talk about a consistent trend reversal," says Viviane Bittencourt , the Consumer Survey Coordinator for FGV.

The country's economy is expected to contract by 3.7% in 2015 and 3% this year, according to economists.

The consumer-confidence index polls 2,000 families in Brazil's seven largest cities. It measures their willingness to purchase various consumer goods and gauges expectations about employment, income and economic opportunities.

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