Brazil: Consumer confidence falls in February
The consumer confidence index published by the Getulio Vargas Foundation (FGV, Fundaçao Getúlio Vargas) fell a seasonally-adjusted 1.6% from the previous month in February. The index decreased from January’s over two-year high of 88.8 to 87.4. The deterioration was driven by consumers’ more pessimistic views regarding the current and future economic situations compared to the previous month.
The FGV confidence index spans a range from 1 to 200 points, where 100 points is considered neutral. Despite recent gains, the index still lies deep in pessimistic territory.