Consumer confidence rises 7.1 points in November to 93.2 points, says FGV

Consumer confidence advanced 7.1 points in November compared with October, in series with seasonal adjustment, reported on Monday, 26 the Getulio Vargas Foundation (FGV). The consumer confidence index (CCI) was 86.1 points in October to 93.2 points in November. With high of 7.1 points, consumer confidence reached in the month, the highest level since July 2014, reveals the Foundation. "After advancing for the second consecutive month, the index accumulated a high 11.1 points in the quarter October-November, the greatest historical series started in September 2005," reports the Foundation. "After a period of mistrust, consumers return to be optimistic about the economic prospects of the country, family finances and employment. But they also show ' hopeful ' about the future, consumers already are less dissatisfied with the present. The result seems to have been influenced by the reduction of political uncertainties and the effect ' honeymoon ' with the new Government "evaluated Viviane Silk Banerjee, Coordinator of the consumer Survey, in official statement. In the eleventh month of the year, the Current Situation index (ISA) rose 2.7 points to 74.6 points, the highest level since May (77.2 points). Already the Expectations index (IE) grew 9.8 points, to 126.4 points, the highest level since February 2013 (106.7 points). The degree of satisfaction with the economy at the moment rose 3.3 points to 81.1 points, while the indicator of the prospects for the economic situation in six months advanced expressive 20 points, to 126.1 points, the largest contribution to the November confidence. The consumer satisfaction with the financial situation at the moment grew 13.5 points, to 106.9 points. Already the intention of purchases of durable goods, after interrupting in October a series of two months of falls, indulging in November. The low was 5.4 points, to 85.3 points. FGV report increased confidence in all income classes in the country. "In quarterly moving averages, however, note a biggest advance among higher purchasing power, whose confidence has already been rising since September, with a high of 4.3 points in November, against 3.1 points moving average indicator of the ICC," says the note. Already in the period of October and November (bi-monthly), the lowest income range gave the largest contribution, of 14.1 points. The consumer Survey collected information from 1,776 households in seven capitals, with interviews between the days 1 and 21 November.