Brazil Survey Shows Bad Economy But Not-Too-Bad Personal Finances

The results of the 18th Consumer Expectations Survey were released yesterday by the Getúlio Vargas Foundation’s (FGV) Brazilian Institute of Economy (Ibre). And Brazilians seem a tad more optimistic about their own finances.

The study, conducted between May 5 and 20, indicates that the recovery of jobs and income in the past 12 months, though modest, has had a positve influence on consumer evaluations.

The stable evaluation registered in May marks a change from the sequence of downward moves that constituted the trend since January.

The survey indicates that consumers feel the economic situation of the country has gotten worse, contrary to their personal finances, which they judge to be in better shape than they did in April.

The proportion of consumers who consider the economy better off than it was six months ago dropped from 14.1% in April to 12.9% in May, while the share of those who believe that it has gotten worse rose from 25.8% to 28.2%.

With regard to personal finances, however, the proportion of consumers who consider their family’s economic situation better off than it was six months ago increased from 20.4% to 21.7%, while the share of those who believe that it has gotten worse fell from 21.6% to 19.9%.

The proportion of consumers who said they were able to save money also grew, from 13.1% in April to 13.8% in May.

Another positive result has to do with the percentage of those who said they are getting into debt. The percentage in May (25.9%) is less than in April (29.5%). The percentage of those who said their budget is balanced rose from 57.4% to 60.3%.

As for the future, the percentage of consumers who think that the possibility of finding employment will be maintained in the next six months was 38.6% in May, compared with 37.6% in April.

With respect to the economic situation, the percentage of pessimists increased from 14.8% to 16.2%, but as far as the family’s economic situation is concerned, expectations are more optimistic, rising from 51.6% to 54.5%.

The average forecast by consumers for this year’s inflation was 9.04%, higher than April’s prediction of 8.95%.

Agência Brasil

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