This morning the National Confederation of Commerce and Tourism (CNC) reported that the consumer confidence grew by 1.4% against September and 5.4% in October last year. According to CNC, Brazilian household consumption growth has been slow but steady and pointing to sustained acceleration in 2018. Brazilian families also are relatively optimistic about the job market, with 31.7% – against 30.7% in September – of the respondents reporting that they feel their jobs are safe on the short term. When asked about their confidence that they will have future growth opportunities in the job, however, they seemed less optimistic. Lastly, anticipating a positive outlook for retail over the next months and low inflation, CNC revised its growth projection from 2.2% to 2.8%.
Source: Investimentos e Notícias, 24 October 2017