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SÃO PAULO – Consumer confidence increased in July, according to a study by Fundação Getulio Vargas (FGV). The index that measured this sentiment was 2.1 points in the month, at 84.2 points, compared to 82.1 points in June. Despite the improvement, the entity points out, the indicator continues at low levels in historical terms.
In the seventh month of 2018, there was recovery of badessments on the current and future situation. The current situation index (ISA) rose 2.3 points to reach 74.1 points, the lowest level of the year. The Expectations Index (EI) rose 1.9 percentage points from June to settle at 91.9 points after three months of decline.
The FGV has shown that the indicator that measures the current financial situation has risen 3, 9 points to 70.7 points, recovering some of the losses suffered in June and reaching the fourth highest level since June 2015 (74.7 points).
Regarding the outlook, the indicator that measures optimism over the next six months' economy decreased by 0.3 point to 102.3 points, the same level that's in December 2016, now the negative trend of the last few months. The indicator of the future financial position of families increases by 1.1 point to 92.2 points
The slight recovery in confidence occurs in all income clbades, except for consumers with high family incomes (over 9,600 reais) month, whose index fell for the fourth consecutive month, with a cumulative loss of 11.3 points.
"Normally, after the onset of shocks like the month of May, the trust of the agents is negatively affected at the beginning and then recovers," says Viviane Seda Bittencourt, coordinator of the Consumer Survey, commenting on the document. "Although this is good news, the only partial recovery in July suggests that the slow pace of the economy and the job market continues to weigh heavily on consumer ratings."
The survey has collected information from 1,854 households between days 2 and 19 of July.
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