Brazilian consumer confidence fell 0.1 point in June, according to FGV Ibre.

THE Consumer Confidence Index (CCI), calculated by Brazilian Institute of Economics of the Getulio Vargas Foundation (FGV Ibre) The Brazilian Consumer Confidence Index (CCFI) fell 0.1 points from May to June, to 88.7 points. On the other hand, in the three-month moving average, the index advanced 0.2 points, to 88.9 points. According to FGV Ibre economist Anna Carolina Gouveia, the consumer confidence result reflects a near stability of the indicator in June, driven by worsening expectations for the future, and offset by the rise in the indicator reflecting the perception of the current situation. "Among the factors, while the indicators of intention to purchase durable goods and future financial situation suggest a more pessimistic consumer for the coming months, the indicator of current financial situation suggests an improvement in the perception of the current budget. The maintenance of a robust labor market and debt relief policies seem to be positively influencing the current perception, but are not enough to reverse the increase in future pessimism," says Gouveia.

This text was translated by machine from Brazilian Portuguese.