São Paulo – The Consumer Confidence Index (ICC) dropped 2.9% between February and March and registered 82.9 points. According to the Brazilian Institute of Economics of Fundação Getúlio Vargas (Ibre/FGV), which released the index results this Wednesday (25th), is the third straight drop in which the ICC stands at historical lows.
The index includes indicators that measure the perception of the people of the country’s current situation and outlooks for the next few months. According to FGV, it was the index that measures the current perception that affected the results the most.
Among the reasons that took down the consumers’ confidence are worries with water and power supply, political instability, inflation and the job market.
According to FGV, the ICC was calculated after data collection at 2,191homes from March 2nd to 21th.
*Translated by Sérgio Kakitani
