Brazil FGV Consumer Confidence Rises To 4-month High

(RTTNews) - Confidence among Brazilian consumers improved for the second straight month in April to the highest level in four months, a survey by the Getulio Vargas Foundation showed on Friday.

The seasonally adjusted FGV IBRE consumer confidence index rose to 89.1 in April from 88.1 in March. However, any score below 100 indicates a pessimistic outlook.

The rise in confidence was mainly attributed to the current conditions index, rising to 85.3 from 83.2 in March. The sub-index for expectations also increased, though marginally, from 92.1 to 92.3.

"Lower inflation and a robust labor market have been key factors in a less pessimistic assessment by consumers, but in recent months the income tax exemption may have provided temporary relief for lower-income families," Anna Carolina Gouveia, economist at FGV IBRE, said.