Rio de Janeiro – The Consumer Confidence Index (ICC, in the Portuguese acronym) measured by the Getulio Vargas Foundation (FGV) has dropped by 1.7% in February from January this year. This is the third straight month of decline. The index stood at 107.1 points, remaining below the historical average for the 12th straight month, and reached its lowest level since May 2009’s 103.6 points.
The decline was mostly a consequence of reduced confidence regarding the current scenario, measured by the Current Scenario Sub-Index, down 2.9%. One of the reasons is lower levels of consumer satisfaction with the current economic situation. The percentage of consumers who rate the scenario as bad has increased from 35.7% to 41%.
Optimism regarding the future, measured by the Expectations Sub-Index, was down 1%. The rate of consumers who believe the economy should improve over the next few months has dropped from 26.5% to 26%, while the rate of those who expect a turn for the worse have increased from 23.1% to 26.5%.
*Translated by Gabriel Pomerancblum
