Brazil’s consumer confidence sets new low in October

Silvio Cascione – Reuters, 10/26/2015

Brazilian consumer confidence fell for a sixth straight month to a record low in October as a deepening political crisis stoked pessimism among families, a private survey showed on Monday.

The Getulio Vargas Foundation (FGV) said its confidence index fell to 75.7 in October, the lowest since the data series began in 2005, from 76.3 in September.

“The lack of positive signs in the economic outlook along with political uncertainties kept confidence at record lows. Consumers remain very unsatisfied with the present and pessimistic about the future,” FGV economist Viviane Seda Bittencourt said in the data release posted on FGV’s website.

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