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Brazil consumer confidence rose in July

Staff Writer |
Consumer confidence in Brazil rose in July for the third-consecutive month, as Brazilians are less pessimistic about the country's economy for the medium term.

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Brazil's main consumer-confidence index was at 76.7 points, up from 71.3 points in June, the Getulio Vargas Foundation, said.

The country's economy is expected to shrink by 3.25% this year, according to economists, after contracting by 3.8% last year.

The consumer-confidence index polls 1,943 families in Brazil's seven largest cities. It measures their willingness to purchase various consumer goods and gauges expectations about employment, income and economic opportunities.

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