Brazil: Consumer confidence retreats slightly in October
October 25, 2012
The consumer confidence index published by the Getulio Vargas Foundation (FGV, Fundacao Getulio Vargas) decreased in October a seasonally adjusted 0.3% over the previous month. As a result, the index fell to 121.7 points, which was below the 122.1 points registered in September. The lower reading reflects a deterioration in future expectations, while assessment of the current economic situation improved over the previous month. The FGV confidence index has a range spanning from 1 to 200 points, where 100 points is considered neutral. At the current level, the consumer confidence still sits comfortably above the 100-point threshold, which suggests sustained growth in private consumption going forward.