Brazil: Consumer confidence falls to one-year low in January
January 24, 2013
The consumer confidence index published by the Getulio Vargas Foundation (FGV, Fundacao Getulio Vargas) decreased a seasonally adjusted 0.7% over the previous month in January. As a result, the index fell to 117.9 points, which was below the 118.7 points registered in December and represented the lowest level seen in a year. The lower reading reflects a deterioration in both future expectations as well as in the assessment of the current economic situation.
The FGV confidence index has a range spanning from 1 to 200 points, where 100 points is considered neutral. At the current level, consumer confidence still sits comfortably above the 100-point threshold, which suggests sustained growth in private consumption going forward.