The consumer confidence index published by the Getulio Vargas Foundation (FGV, Fundacao Getulio Vargas) dropped a seasonally adjusted 2.0% over the previous month to reach 120.1 points in March. At the current level, the index is 7.6% higher than in the same month the year before and remains close to the historic high of 124.2 points recorded in November 2010. The FGV index has a range of 1 to 200 points, where 100 points is neutral. The decline in confidence was driven by a less optimistic assessment of the economic situation for the next six months, as consumer spending is constrained by the current monetary tightening cycle initiated in January.
Brazil Consumer Confidence
Consumer confidence moderates in March
March 28, 2011
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Brazil Economic News
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