Brazil: Consumer confidence edges down in November
November 26, 2012
The consumer confidence index published by the Getulio Vargas Foundation (FGV, Fundacao Getulio Vargas) decreased in November a seasonally adjusted 1.4% over the previous month. As a result, the index fell to 120.0 points, which was below the 121.7 points registered in October. 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.