Brazil: Consumer confidence deteriorates for the third month in a row in June
The consumer confidence index published by the Getulio Vargas Foundation (FGV, Fundaçao Getúlio Vargas) fell a seasonally-adjusted 5.5% from the previous month in June, decreasing from 86.9 to 82.1, the worst print in ten months. The deterioration was driven by consumers’ more negative assessment of both the current and future economic situation.
The FGV confidence index spans a range from 1 to 200 points, where 100 points is considered neutral. Three consecutive drops throughout the second quarter have sunk the index further into pessimistic territory.