Brazil''s consumer confidence rises in may

São Paulo-expectations have improved and the Brazilian consumer confidence surged in may, after two months of decline, the Getulio Vargas Foundation said Tuesday.
The FGV said that its consumer confidence index (CCI) rose 3.5 points in may, reaching 67.9 points.
With elevation of 5.3 points, the Expectations index (IE) recorded the highest high since October 2011 and was featured in this month, peaking at 71.1 points.
This is the highest level since June 2015 (73.1). The Current Situation index (ISA) also showed gains, but only 0.8 point, reaching 65.5 points.
"For the first time since December 2013, the consumer is not pessimistic about the evolution of the economy in the coming months. As the new government hasn''t had time to change it seems that the outcome of the first phase of the impeachment process has altered the mood of a portion of consumers ", explained the consumer poll Coordinator of FGV, Viviane Silk Bittencourt, in a note.
Consumers now live the expectations around the Government of interim President Michel Temer, which advocates for pension reform and reduction of public spending. The Ministry of Finance took Henrique Meirelles, which indicated Ilan Goldfjan to take over the Central Bank.