Brasília – Brazilian consumer confidence grew by 0.5% in October when compared with September, according to the National Confederation of Industries (CNI). The National Consumer Expectation Index (Inec) reached 112.9 points in October, as against 112.4 points in September. Last month, in comparison with August, the index also increased, by 0.4%.
In spite of the growth seen in September and October, according to the CNI, consumer confidence cannot be said to have resumed its growth trajectory, as shown by the index for July (113.2 points).
According to the CNI, out of the Inec’s six components, three have improved from September to October. Consumers are confident in the job supply in the labour market (+2.6%), most have either maintained or improved their financial situations (+2.2%). Consumers also expect to either reduce or maintain their level or indebtedness (+2.6%).
On the other hand, expectations regarding personal income have declined in October (-1.5%) as against September, and the indicator for purchases of higher value-added goods also dropped using the same basis of comparison (-0.8%). The inflation expectation index dropped by 1.9%.
*Translated by Gabriel Pomerancblum
