Brazil: Consumer confidence continues to decline in August
August 24, 2012
The consumer confidence index published by the Getulio Vargas Foundation (FGV, Fundacao Getulio Vargas) decreased a seasonally adjusted 1.0% over the previous month to reach 120.4 points in August, which was below the 121.6 points registered in July. The lower reading reflects a less optimistic assessment of the current economic situation, while future expectations improved over the previous month. The FGV confidence index has a range spanning from 1 to 200 points, where 100 points is considered neutral. At the current level, the consumer confidence still sits comfortably above the 100-point threshold, which suggests sustained growth in private consumption going forward.