Brazil: Consumer confidence falls to record low
December 28, 2015
In December, the consumer confidence index published by the Getulio Vargas Foundation (FGV, Fundaçao Getulio Vargas) fell a seasonally-adjusted 2.0% over the previous month, which contrasted the 1.3% increase recorded in November. As a result, the index fell from 76.7 points to the record-low 75.2 points in December. The deterioration was driven by consumers’ more pessimistic views regarding the current and future economic situations compared to the previous month and comes against a backdrop of economic gloom in the country.
The FGV confidence index spans a range from 1 to 200 points, where 110 points is considered neutral. As a result of December’s reading, consumer confidence remains deep in pessimistic territory.