Brazil consumer confidence hits all-time low in August
SAO PAULO Aug 25 (Reuters) - Brazilian consumer confidence fell to an all-time low for a second straight month in August as growing unemployment and still high inflation rates stoked pessimism among families, a private survey showed on Tuesday.
The Getulio Vargas Foundation (FGV) said its confidence index fell to 80.6 in August, the lowest since the data series began in September 2005, from 82.0 in July.
"Consumers are increasingly pessimistic about the future of the economy," FGV economist Viviane Seda Bittencourt said in the data release posted on FGV's website. "The estimated median inflation for the next 12 months reached 10 percent in August, and the outlook for the jobs market is one of the worst in ten years."
(Reporting by Walter Brandimarte; Editing by Meredith Mazzilli)
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