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The Year Started with a Drop in Confidence in January. All Due to Pessimism Regarding the Coming Months, as Shown by FGV (Fundação Getúlio Vargas) Data Released on the Morning of January 25.
However, the ICC (Consumer Confidence Index) from Fundação Getúlio Vargas saw a decrease of 2.2 points, reaching about 85.8 points. The coordinator of the surveys, Viviane Seda Bittencourt, stated: ” The result reflects pessimism regarding the coming months, although lower-income families remain optimistic”.
In addition, she added: “The perception of the current situation does not change much compared to previous months, meaning there is a slowdown in the labor market, high levels of debt, and elevated interest rates continue to depress purchasing intentions in the coming months”.
Initially, the ISA (Current Situation Index) rose slightly from 70.9 in December 2022 to 71.1 in January. Meanwhile, the IE (Expectation Index) fell by 3.6 points to 96.7 points, returning to a level below neutrality.
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Abroad, it is no different, with this announcement from the President of Eurasia.
Learn More About the Consumer Confidence Index
For those who are not familiar with the Consumer Confidence Index, it consists of a series of data indicated and calculated by economic institutes that can measure consumers’ willingness to buy and even demand services from the market in the future. Thus, the most important indicators for conducting any market analysis are referred to as the Consumer Confidence Index.
Therefore, the data collected in the analysis of the Consumer Confidence Index is often published on websites and even in newspapers that discuss economics. Thus, understanding its significance can be essential for any evaluation of the macroeconomic situation of the country.
In this way, when the topic of Consumer Confidence is discussed, it refers to the index measured by Fundação Getúlio Vargas (FGV). The collected data is presented monthly and is measured in the first three weeks of the month. This research was inspired by expectation data from Europe, particularly from the USA, where it is considered very important when it comes to defining economic policies.
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