Brazil: Consumer confidence falls to record low in March
March 27, 2015
In March, the consumer confidence index published by the Getulio Vargas Foundation (FGV, Fundaçao Getulio Vargas) fell a seasonally-adjusted 2.9% over the previous month, which followed the 4.9% decrease recorded in February. The index fell from the 85.4 points tallied in February to a record low level of 82.9 points in March. The deterioration was broad-based. In March, consumers were less optimistic about the current economic situation and 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 lies further in pessimistic territory. The index has followed a broadly-based downward trend from mid-2012 until the present.