The consumer confidence index published by the Getulio Vargas Foundation (FGV, Fundacao Getulio Vargas) dropped a seasonally adjusted 2.4% over the previous month to 115.4 points in May. With the third consecutive negative reading, the index is now 1.2% below the value observed in the same month last year and continues to further diverge from the historic high of 124.2 points recorded in November 2010. The FGV index has a range spanning from 1 to 200 points, where 100 points is considered neutral. The decline in confidence reflected a less optimistic assessment of the current economic situation as well as future expectations, with both declining a seasonally adjusted 2.4% over the previous month. That said, consumer sentiment remains elevated, which bodes well for solid growth in private consumption this year.
Brazil Consumer Confidence
Consumer confidence moderates further in May
May 25, 2011
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Brazil Economic News
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