Consumer confidence drops for the 4th consecutive month – 05/18/2023 – Panel SA

The consumer confidence index, monitored by the ACSP (Commercial Association of São Paulo), fell again for the fourth consecutive month and was below 100 points in May, a level considered pessimistic.

The last time the survey of 1,700 families was in the field of pessimism was in October. According to the association, there was a 1% drop compared to the month of April, but consumer confidence was almost 9% higher than in the May 2022 survey.

The ACSP believes that the main reason for the drop in consumer motivation is the reduction in economic activity in the country.

In terms of regions, the Midwest, South and Southeast showed a decrease in confidence compared to last month. The Northeast was stable and the North region was the only one with positive indicators.

Among the socioeconomic classes, there was a small increase in confidence in the DE classes and a drop in the AB and C classes. The ACSP states that the financial situation was indicated as one of the main points of deterioration in the perception of families, in addition to the lack of security in relation to to continuity in employment.

With Diego Felix

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