Brazil: Consumer confidence falls in October
October 24, 2014
In October, the consumer confidence index published by the Getulio Vargas Foundation (FGV, Fundaçao Getulio Vargas) decreased a seasonally-adjusted 1.5% over the previous month, which contrasted the 0.7% improvement recorded in September. The index fell from the 103.0 points tallied in September to 101.5 points in October, which marked the lowest level since April 2009. The figure was a result of a deterioration in both consumers’ future outlook on the economy and their current economic situation indexes compared to the previous month.
The FGV confidence index spans a range from 1 to 200 points, where 100 points is considered neutral. While consumer confidence has hovered above the 100-point threshold, indicating optimism, it had followed an almost uninterrupted downward trend from mid-2012 until May of this year.