Brazil: Consumer confidence falls in November
November 24, 2016
Consumer confidence in Brazil fell to a four-month low in November. The consumer confidence index published by the Getulio Vargas Foundation (FGV, Fundaçao Getúlio Vargas) decreased a seasonally-adjusted 4.0% from the previous month, which contrasted the 2.2% increase recorded in October. This lowered the index from its nearly two-year high of 82.4 points to 79.1 points. The deterioration was driven by consumers’ more pessimistic views regarding the current and future economic situations compared to the previous month.
The FGV confidence index spans a range from 1 to 200 points, where 100 points is considered neutral. Despite gains seen over the past months, consumer confidence remains firmly within pessimistic territory.