Brazil: Consumer confidence falls to new record low in August
August 28, 2015
In August, the consumer confidence index published by the Getulio Vargas Foundation (FGV, Fundaçao Getulio Vargas) fell a seasonally-adjusted 1.7% over the previous month, which followed the 2.3% decrease recorded in July. As a result, the index dropped from the 82.0 points tallied in July to 80.6 points in August, a new record low. The decline was driven by more pessimistic views regarding the future economic situation compared to the previous month.
The FGV confidence index spans a range from 1 to 200 points, where 100 points is considered neutral. As a result of the monthly drop, consumer confidence fell slightly deeper into pessimistic territory. The index has followed a broadly-based downward trend from mid-2012 through the present.