The Consumer Confidence Index (ICC), measured by the Getulio Vargas Foundation (FGV), grew 2.9 points from January to February this year. As a result, the indicator reached 77 points on a scale from zero to 200 points, the highest level since August last year.
The rise in the rate was mainly driven by the Expectations Index, which measures consumer confidence in the future, which rose 3.8 points. As a result, the sub-index reached 84.5 points, mainly due to the good performance of the intention to purchase durable goods component in the coming months.
The Present Situation Index, which measures confidence in the present, also rose (1.5 points) to 67.6 points. Despite the increase, this sub-index is still at a very low level in historical terms.
“The positive result may have been influenced by Auxílio Brasil in the lower income brackets, more favorable perspectives on the labor market and the economic situation that became more optimistic, with indicators exceeding the neutral level of 100 points. But it is necessary to be careful, the level is still very low in historical terms and the volatile behavior of consumers in recent months show that the high uncertainty has greatly affected the maintenance of a clearer trend of confidence in the short term”, explains researcher Viviane Seda Bittencourt, in a note released by FGV.
