Brazil: Consumer confidence falls to new record low in September
September 28, 2015
In September, the consumer confidence index published by the Getulio Vargas Foundation (FGV, Fundaçao Getulio Vargas) fell a seasonally-adjusted 5.3% over the previous month, which followed the 1.7% decrease recorded in August. As a result, the index dropped from the 80.6 points tallied in August to 76.3 points in September, a new record low. The decline was driven by more pessimistic views regarding the future and current 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 deeper into pessimistic territory. The index has followed a broadly-based downward trend from mid-2012 through the present.