Consumer confidence increased slightly in April compared with March, but remains insufficient to ensure the revitalization of Brazil's economy, according to a report released by the National Industry Confederation (CNI).

According to the CNI report, the National Consumers' Expectation Indicator (Inec) rose 0.3 percent from March to April, reaching 102.2 points. However, compared with April 2017, the indicator was down 1.2 percent.

Despite the slight increase in April, the indicator remains below the average historic level of 107.9 points.

According to the CNI, the Inec anticipates variations in economic activity levels. An increase in the indicator helps foresee improvement in the economy.

The CNI attributed the slight increase registered in April to better expectations over the fall of inflation levels and unemployment rates. Expectations about inflation and about employment improved 2.6 percent and 2.5 percent separately in April.

However, the CNI pointed out that the Inec has remained below average historic levels for almost two years, showing that the confidence of the Brazilian consumers is still low and their perception of their own economic situation has grown worse.

"Consumers are less willing to make higher-value purchases, such as buying furniture and household appliances," the CNI noted.

Source:
courtesy of XINHUA NEWS AGENCY

by XINHUA NEWS

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