Brazil: Consumer confidence falls in March
April 14, 2016
In March, the consumer confidence index published by the Getulio Vargas Foundation (FGV, Fundaçao Getulio Vargas) fell a seasonally-adjusted 2.0% over the previous month, which contrasted the 3.2% increase recorded in February. As a result, the index deteriorated from the 68.5 points tallied in February to 67.1 points. The deterioration was driven by consumers’ less pessimistic views regarding the current and future economic situations compared to the previous month. The index remains at historic lows against a backdrop of economic gloom in the country.
The FGV confidence index spans a range from 1 to 200 points, where 100 points is considered neutral. As a result of March’s fall, consumer confidence still remains deep in pessimistic territory.