April 26, 2016

In April, the consumer confidence index published by the Getulio Vargas Foundation (FGV, Fundaçao Getulio Vargas) fell a seasonally-adjusted 4.0% over the previous month, which followed the 2.0% decrease recorded in March. As a result, the index deteriorated from the 67.1 points tallied in March to 64.4 points. The deterioration was driven by consumers’ less pessimistic views regarding the current and future economic situations compared to the previous month. The index remains at historic lows against a backdrop of economic gloom in the country.



The FGV confidence index spans a range from 1 to 200 points, where 100 points is considered neutral. As a result of April’s fall, consumer confidence still remains deep in pessimistic territory.

Panelists surveyed for this month’s LatinFocus report expect private consumption to fall 4.5% in 2016, which is down 0.5 percentage points from last month’s forecast. For 2017, panelists expect flat private consumption growth.