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Consumer confidence in the economy decreased in February, as shown by research carried out by the São Paulo Commercial Association (ACSP) using the PiniOn platform. The index dropped by 2.9% compared to the previous year, resulting in the ACSP National Trust Index (INC) standing at 99 points.
When the index is under 100, it shows a more negative consumer sentiment. This marks the first instance of economic distrust observed by ACSP since June 2024.
Trust decline impacted all parts of Brazil, with a particular focus on the Midwest and the North.
The study also showed a overall decline in trust among various social classes, with a more significant impact observed in class C families. The research sample comprised 1,679 families from various regions in Brazil, including both urban and rural areas.
Consumer confidence has experienced its biggest decline in three years, according to FGV.
Consumer confidence experienced its most significant decline in over three years in January, primarily due to increased inflationary pressures, particularly in the food sector, as assessed by economist Anna Carolina Gouveia from FGV (Getulio Vargas Foundation).
The FGV indicated that the largest decline in the Consumer Confidence Index since September 2021 occurred in January, with a 5.1-point drop to 86.2 points.
The expert mentioned that consumer sentiment in January was mainly influenced by less optimistic expectations about the future. He believes that the weakest consumption activity occurs when responses about the present also indicate a negative outlook.
The technique noted that all the measurements decreased once again for the second time in a row, with ISA and IE also showing declines in December of the previous year, albeit less significant than the decreases seen in January, with 1.3 points and 4.3 points respectively.
The biggest decline in all aspects of the ICC was in the category of ‘future financial situation,’ according to the economist from FGV.
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