Brazil: Consumer confidence continues to fall in December
December 21, 2012
The consumer confidence index published by the Getulio Vargas Foundation (FGV, Fundacao Getulio Vargas) decreased in December a seasonally adjusted 1.1% over the previous month. As a result, the index fell to 118.7 points, which was below the 120.0 points registered in November and represented the lowest level seen in 11 months. The lower reading reflects a deterioration in both future expectations as well as in the assessment of the current economic situation.
The FGV confidence index has a range spanning from 1 to 200 points, where 100 points is considered neutral. At the current level, consumer confidence still sits comfortably above the 100-point threshold, which suggests sustained growth in private consumption going forward.