São Paulo – The Consumer Confidence Index (ICC, in the Portuguese acronym) calculated by the Getúlio Vargas Foundation’s Brazilian Institute of Economics (FGV/IBRE) reached its lowest level since April 2009 in September and October. According to the Consumer Expectation Survey released by FGV this Friday (24th), the indicator scored 101.5 points, down 1.5 percentage point from August and September levels. In April 2009, the score was 98.3 points.
According to the survey, the Current Scenario Index was down 2.9% to 101.8 points, whereas the Expectation Index declined by a lower rate, 0.6%, to 101.6 points.
In a press release, the FGV/IBRE’s research coordinator Viviane Seda said the labour market and inflation seem to remain the “dominant” causes for concern according to consumers. The FGV’s release also claims the main reason for the lower ICC in October was the negative assessment of families’ current economic status.
*Translated by Gabriel Pomerancblum
