Consumers confidence grows in SP
Valor Econômico 05/13/2009
The confidence of the consumer from São Paulo started increasing again in May, with the expectation of improvement in the Brazilian economy, according to the survey made by Fecomércio-SP (São Paulo Commerce Federation). The ICC (Consumer Confidence Index) was at 125.7 points in the month, an increase of 0.7% compared to April, when the index fell to 124.9 points. Compared to the same period of last year, the indicator had a 15.6% fall.
Despite the reduction, the indicator is still positive. In a scale from zero to 200 points, the index points to pessimism below one hundred points and optimism above such level. The survey emphasizes the expectation of stability in the prices and the governmental incentives to increase the economic activity, such as the reduction of taxes on cars, building materials and white line products, have helped raising consumer confidence.