Brazil’s consumer confidence improved for the first time in four months in July, figures from the FGV IBRE showed Tuesday.
The consumer confidence index rose to 84.2 in July from a 10-month low of 82.1 in June.
The current situation index rose 2.3 points to 74.1 in July, but which was the lowest level in this year.
After three months of decline, the expectations index also increased by 1.9 points to 91.9 in July.
“Normally, after the occurrence of shocks such as May, the confidence of the agents is affected negatively at first and then recovers,” Viviane Seda Bittencourt, coordinator of consumer survey, said.
“While it is good news, the only partial recovery in July suggests that the slow pace of the economy and the labor market continue to weigh heavily on consumer ratings.”