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Consumer confidence advances in August and has the highest value in two years, says FGV

THE consumer trust Brazilians rose again in August, due to the improvement in expectations for the coming months, informed the Fundação Getulio Vargas (FGV ) on Thursday (25), although he warned of possible political instability ahead.

The Consumer Confidence Index (ICC) had its third consecutive rise this month, up 4.1 points to 83.6 points, the data showed.

This result was mainly due to the six-point increase in the Expectations Index (IE), to 92.6 points, the highest level since February 2020, although the Current Situation Index (ISA) also rose by 1.4 points to 71.7 points, highest result since November 2020.

“There is a more favorable view of the economic environment in the short term, which may be influenced by the improvement in the labor market and deceleration of inflation”, said in a note Viviane Seda Bittencourt, coordinator of the surveys. “This contributes to the increase in the impulse to buy, which occurs more intensely for the higher income classes.”

Despite the improvement in the ICC in August, “the political scenario can still generate turmoil in this environment in the coming months”, warned the expert. THE electoral race to the plateau officially started this month.

Source: CNN Brasil

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