Consumer confidence in November is the highest in more than five years
O Estado de S. Paulo
The consumer confidence in November showed the highest level in over five years. It is what revealed on Wednesday, 23, Getúlio Vargas Foundation (FGV) when releasing the Consumer Confidence Index (CCI), which increased 2.7% in November against October, in the series with seasonal adjust. Also according to the foundation, the ICC has slowed and increased 9.3% in November compared to the same month in 2009.
The Foundation has also reviewed upwards the rate registered in October against September, for the ICC from 0.1% to 0.2%. With the result, the performance of the index, which is calculated within a range of punctuation up to 200 points (and, when closer to 200, the higher the level of consumer confidence) was 121.8 points to 125.4 points from October to November - a new historical record of the index, initiated in September 2005.
In its statement, the foundation reported that in November, Brazilian consumers are more satisfied with the current situation and optimistic about the scenario in the next six months. The ICC is divided into two categories. The Current Situation Index (CSI) showed an increase of 4.5% this month after showing stability (0.0%) in October, in the revised series (the previous result for this sub-index, released last month, was down 0.1%). But the Expectations Index (EI) increased 1.5% in November after presenting a high of 0.2% in October. In the case of IE, the rate of last month has not been reviewed.
The favorable assessment of consumers about the current economic situation drove the increase of 2.7% in the Consumer Confidence Index (CCI) of November compared to October. According to FGV, the share of consumers interviewed for the calculation of the ICC who assess the current situation as good increase from 31.7% to 34.6% of the total 2,000 households surveyed between 1 and 20 of November. In the same period, the share of respondents who consider it poor fell from 18.7% to 15.9%. Also according to the foundation, the forecasts of the consumer for the economic scenario also remained optimistic on the horizon of six months.
The share of consumers surveyed who design improvement increased from 27.3% to 31.7% from October to November. In the same period, the share of respondents who predict worsening also grew but at a lower rate from 9.8% to 11.5%.