Consumer confidence index retreats in São Paulo – 03/04/2023 – Panel SA

The São Paulo consumer confidence index monitored by the ACSP (Commercial Association of São Paulo) recorded the first drop since November. It was a decrease of 0.9% compared to February.

The entity claims that the perception of families in relation to their own financial and employment situation remains positive, but is losing intensity.

For Ulisses Ruiz de Gamboa, an economist at ACSP, the drop is within the margin of error and is not yet understood as a change in the growth trend that started in May 2021. The March index stood at 109 points, a level considered optimistic.

Compared to March last year, when the effects of the omicron persisted, the indicator rose 25%, according to the ACSP.

The monitoring recorded a slight drop in the C class and a greater retreat in the D and E classes. AB class families show optimism.

In São Paulo, the consumer confidence index remained stable compared to last month —when it surpassed 100 points for the first time in three years— and reached 101 points.

Joana Cunha with Paulo Ricardo Martins It is Diego Felix

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