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Consumer Confidence Index down 1.7% in Brazil

Staff writer |
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.

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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%.

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