Rio de Janeiro – Consumption Intentions of Families (ICF, in the Portuguese acronym) were down 1.6% in June from May this year, reaching the lowest level ever for the second straight month since records started being kept (initiated in January 2010). The survey, conducted by the National Confederation for Trade in Goods, Services and Tourism (CNC), monitors the willingness of Brazilian families to consume.
According to CNC economist Juliana Serapio, the main causes for the reduced intention of purchase are high interest rates and inflation over the past few months. Of the seven components used for measuring the index, only two have increased in June from May: the intention of instalment purchase plans (up 1%) and current consumption levels (up 0.3%).
Out of five categories whose purchase intentions have declined, the poorest result was durable goods (-4.5%). Next came professional perspectives (-3%), consumption perspectives (-2.6%), assessment of current employment (-1.3%) and current income (-1%).
June-on-June, the ICF was down 7.4%. The index dropped across seven categories, highlighting durable goods, down 20.9%.
*Translated by Gabriel Pomerancblum
