Brazil Consumption Intent Rises 4.9% in December as Retail Confidence Improves

Overview

• CNC reports the Intention of Household Consumption index climbed to 98.6 points in December, up 4.9% from November and 0.2% from a year earlier.
• All seven ICF components advanced month over month, led by a 7.7% rise in the perceived timing for durable goods and gains in credit access and current consumption.
• Lower‑income households saw a stronger rebound, with ICF up 5.1% versus a 4.2% increase for higher‑income families.
• The Retail Business Confidence Index (Icec) rose 2.3% to 101.7, with current conditions and expectations each up 3.1% and investment intentions up 0.7%, but it fell 5.9% year over year.
• CNC leaders credit Black Friday and Christmas for the bounce and warn that a 15% Selic rate and costly credit restrain a durable recovery.