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Financial News: Brazil Consumer Confidence Strongest Since Dec 2014

Brazil Consumer Confidence Strongest Since Dec 2014

03/27/2017 - 07:41:00 (RTTNews)

(RTTNews) - Brazil's consumer confidence strengthened for the third straight month in March to the highest level in more than two years, figures from the Getulio Vargas Foundation, or FGV, showed Monday.

The consumer confidence index rose by 3.5 points to 85.3 in March from 81.8 in the prior month.

Moreover, this was the highest reading since December 2014, when it marked 86.4.

The current situation index climbed 1.2 points to 71.5 in March, which was the strongest level since August 2015. Similarly, the expectations index rose to a two-year high of 95.7 from 90.6.

"The March Survey confirms the resumption of the upward trajectory of consumer confidence, interrupted with a strong adjustment in the opposite direction at the end of last year. The result is still driven mainly by improved expectations," Viviane Seda Bittencourt, Coordinator of the Consumer Survey, said.

"Nevertheless, news favorable to economic recovery, such as the deceleration of inflation, the fall in interest rates and the release of resources from inactive FGTS accounts, may lead to a more consistent increase in the variables that measure the current situation of consumers over the years."

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