Brazil: Consumer confidence falls to new record low in July
July 27, 2015
In July, the consumer confidence index published by the Getulio Vargas Foundation (FGV, Fundaçao Getulio Vargas) fell a seasonally-adjusted 2.3% over the previous month, which followed the 1.4% decrease recorded in June. As a result, the index dropped from the 83.9 points tallied in June to 82.0 points in July. The decline was driven by more pessimistic views regarding both 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. 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.