Consumer confidence fell 3.3 points in November compared to October, in the seasonally adjusted series, informed this Thursday (24) the Getulio Vargas Foundation (FGV).
The Consumer Confidence Index (CCI) stood at 85.3 points. On quarterly moving averages, the indicator advanced by 0.5 points.
“Consumer confidence drops for the second straight month. Once the effect of income transfers has passed, low-income consumers feel less satisfied about their family’s financial situation and revise their expectations downwards in the coming months”, evaluates Viviane Seda Bittencourt, coordinator of the Surveys of the Brazilian Institute of Economics at FGV (Ibre/FGV), in an official note.
Bittencourt adds that even with a drop in perspectives on inflation and a still positive effect on the job market, there is an increase in pessimism about family finances in the coming months. “It is possible that there is still some room for consumption by families with greater purchasing power, but, given the macroeconomic conditions, sustaining it in the coming months ends up being a difficult task.”
In November, the Current Situation Index (ISA) fell 3.7 points to 70.8 points. The Expectations Index (IE) retreated 2.7 points, to 96.0 points.
In the ISA, the item that evaluates the financial situation of families dropped 5.6 points, to 60.9 points. The component that measures satisfaction with the economic situation decreased by 1.9 points, to 81.2 points.
As for expectations, the item that most contributed to the drop in confidence in the month was the financial situation of families over the next six months, which shrank by 5.6 points to 92.5 points.
The item that measures the degree of optimism with the general economic situation fell 4.6 points, to 110.6 points, the only component still above the neutral level. Already the intention to purchase durable goods rose 2.5 points, to 85.5 points.
The analysis by income group showed that the negative result was influenced by consumers with lower purchasing power. Among families with monthly income of up to R$ 2,100.00, confidence fell 10.1 points, to 74.5 points. In the group that receives more than R$ 9,600.00 per month, the indicator rose 0.7 points, to 92.2 points, the only group with an improvement in the month.
The Consumer Survey collected interviews between the 1st and 21st of November.
Source: CNN Brasil
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