Consumer confidence in Brazil recovered to a six-month high in February, according to data released by the FGV (Fundação Getúlio Vargas) on Tuesday (22), although its level is still low in historical terms and continues to impose caution.
In February, the FGV’s ICC (Consumer Confidence Index) rose 2.9 points, to 77.0 points, the highest level since August 2021 (81.8).
The result reflected an improvement both in the assessment of the present moment and in the expectations for the coming months. The ISA (Current Situation Index) advanced 1.5 points to 67.6 points, while the IE (Expectations Index) gained 3.8 points, to 84.5 points, the highest since August 2021 (90.9) .
“The highlight was the increase in the intention to purchase durable goods, which has been falling for five consecutive months”, said the coordinator of the surveys, Viviane Seda Bittencourt, in a note. This indicator advanced 8.8 points to 69.1 points, the highest level since August 2021 (69.7).
“The positive result may have been influenced by Auxílio Brasil in the lower income brackets, more favorable perspectives on the job market and economic situation”, said Bittencourt.
“But caution is needed, the level (of the ICC) is still very low in historical terms and the volatile behavior of consumers in recent months shows that high uncertainty has greatly affected the maintenance of a clearer trend in short-term confidence” , warned the expert.
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