Tue, 27 Oct 2020

RIO DE JANEIRO, Sept. 24 (Xinhua) -- Retail trade confidence in Brazil rose 3 points in September for the fifth consecutive month of increased optimism, climbing back up to the pre-pandemic level, the Getulio Vargas Foundation (FGV) said on Thursday.

The economic think tank's Retail Trade Confidence Index reached 99.6 points in September and rose 5.1 points in the third quarter.

"In September, retail trade confidence maintained the positive path started in May, reaching the pre-pandemic level. The increase, as in the previous month, was influenced by the improvement in perception of the current moment and by the gradual increase in expectations in relation to the coming months," the report said.

"This combination suggests a more favorable perception of the sector regarding the recovery of sales volume in the month, but still cautiously projecting the coming months, potentially influenced by the proximity of the end of the aid programs, the slow recovery of confidence of consumers and the challenging job market scenario," the report added.

In September, confidence rose in four of the six main commercial segments and improved both in the perception of the present moment and in expectations.

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