Brazil: Consumer confidence declines for third straight month in July
July 27, 2012
The consumer confidence index published by the Getulio Vargas Foundation (FGV, Fundacao Getulio Vargas) decreased a seasonally adjusted 1.5% over the previous month to reach 121.6 points in July, which was below the 123.5 points registered in June. The lower reading reflected a less optimistic assessment of both the current economic situation as well as future expectations. 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.