Declining consumer confidence reinforces negative outlook for business activity in Brazil

The FGV's Consumer Survey figures show a worsening of confidence in all income brackets, with greater impact among lower income families.

RIO DE JANEIRO, BRAZIL - High and persistent inflation focused much attention on Friday (24), with the release of the IPCA-15's 1.14% rise in September, which brought the accumulated figure for the past 12 months to 10.05%.

Another important indicator also made public the same day, albeit receiving less attention - the Consumer Confidence Index (ICC) of the Getúlio Vargas Foundation (FGV) dropped for the second consecutive month, a negative indication for economic activity in the coming months.

In September the ICC fell sharply, by 6.5 points, to 75.3 points, the lowest level since April . . .

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