Brasília – Brazilians are back to being more optimistic regarding the economy, according to a survey released this Monday (1st) by the National Confederation of Industry (CNI, in the Portuguese acronym). After three straight months bearish, the National Consumer Expectation Index (Inec) was up 0.6% in March from February. March-on-March, the indicator was up 1%.
According to the CNI, the increase was driven mainly by improved expectations concerning inflation. The perception that prices will remain under control in months to come has caused inflation expectations to improve by 6.9% March-on-February and 4.7% March-on-March.
Brazilians’ optimism has also increased concerning household budgets and debt capacity. In March, the index of expectations surrounding family finances improved by 0.5%, and the indebtedness indicator was up 2.3%.
To the CNI, the improved confidence levels may have a positive impact on economic growth in 2013. The reason for that is, confident consumers tend to buy more.
Despite being more optimistic, Brazilians remain cautious regarding some aspects of the economy in 2013. The index for consumers who plan on purchasing higher-value goods was down 1.6%, and expectations of a decline in unemployment were down 0.7% March-on-February. The personal income expectation index was down 0.6% March-on-February.
The CNI survey polled 2,002 people in 141 municipalities across the country from March 8th to 11th.
*Translated by Gabriel Pomerancblum
