Consumer confidence index rises in January

Brazil's main consumer confidence index picked up in January, reversing a drop seen in previous month, the Getulio Vargas Foundation said Tuesday.

The Consumer Confidence Index (ICC) rose to 113.0 points from 112.3 points in December. The index runs from 1 to 200 points, with 100 considered neutral. The figure remains well above the historical average of 107 points.

Brazil's economy has proved resilient in the face of the global economic crisis. The country slipped into recession in the fourth quarter of 2008 and the first quarter of 2009. But recovering consumer confidence and rising employment have led to higher retail sales, fueling the nation's recovery.

Brazil's GDP expanded 1.3% in the third quarter compared with the second quarter, with economists predicting steady growth through the end of 2009 and into 2010.

The ICC index is based on interviews with 2,000 families in Brazil's seven largest cities. The ICC measures the willingness of families to make purchases of various types of consumer goods, and gauges expectations about employment, income and economic opportunities.