Brazil’s Consumer Confidence Index (ICC) fell by 2.6 points to 89.4 points in April over March, according to a Getulio Vargas Foundation (FGV) survey. Over the same month in 2017, however, there was a 7.2-point increase.
FGV’s survey shows that the monthly result reflects a worsening in the two ICC’s components. Between March and April, the Current Situation Index (ISA) fell 2.3 points to 76.3 points, while the Expectations Index dropped by 2.5 points to 99.0 points.
“Consumers from all income classes feel less optimistic about the economic situation in the coming months, influenced in part by lowering their expectations on the labor market,” said Viviane Bittencourt, survey coordinator.
The largest contribution to the fall in confidence in April came from the indicator of optimism with the economy in the coming months, which fell to 110.7 points, the lowest level since August 2017.
Regarding the general economic situation, the indicator measuring the degree of satisfaction with the economy at present fell back to 83.3 points, while the indicator for the economic situation in the next six months remained stable at its highest level in history.