Consumer confidence rises points in March

[ishanijerin1]

In quarterly moving averages, the index remains in decline for the fourth consecutive month, falling 0.3 points to 85.8 points.

The FGV IBRE Consumer Confidence Index (ICC) rose 2.5 points in March, to 87.0 points. In quarterly moving averages, the index remains in decline for the fourth consecutive month, falling 0.3 points, to 85.8 points.

“After two months of decline, consumer confidence rose in March, influenced by an improvement in the perception of the current situation and expectations for the coming months. However, despite the positive result, the movements are quite heterogeneous and perhaps vp quality email database contradictory across income brackets, which still makes it difficult to signal a clearer trend for the coming months. The economic scenario remains with high interest rates, resilience to uncertainty and a slowdown in the labor market with reduced activity. Without significant changes, it is possible to continue skating around the same level of confidence in the coming months”, says Viviane Seda Bittencourt, coordinator of the Surveys.

In March, the rise in confidence was influenced by both improved assessments of the current situation and prospects for the coming months. The Current Situation Index (ISA) rose 2.7 points to 72.0 points, the best result since October 2022 (74.5 points), while the Expectations Index (IE) rose 2.2 points to 98.0 points.

Among the items that make up the ICC, the indicator that measures the intention to purchase durable goods was the one that most influenced the increase in the index despite the decrease in optimism regarding family finances in the coming months. The indicator that measures the consumption momentum rose 7.9 points to 84.8 points, the highest since November 2022 (85.5 points), while the one that measures the outlook for the future financial situation fell 2.4 points to 96.6 points, the lowest result since November 2022 (92.5 points). Regarding the economic situation, the indicator remained relatively stable, varying 0.6 points to 112.8 points.

In the assessment of the current situation, consumers' perception of the financial situation of families rose 5.3 points, to 64.1 points, reversing the drop in the previous month. In contrast, the assessment of the current economic situation remained stable, with a variation of 0.1 points, to 80.4 points.