Brazil's consumer confidence sets new low for 3rd straight month
BRASILIA, Sept 24 (Reuters) - Brazilian consumer confidence fell to an all-time low for a third straight month in September as a deepening political crisis stoked pessimism among families already struggling with inflation and unemployment, a private survey showed on Thursday. The Getulio Vargas Foundation (FGV) said its confidence index fell to 76.3 in September, the lowest since the data series began in 2005, from 80.6 in August. "It will take a sequence of good economic news and the political tensions to ease in order to change this scenario," FGV economist Viviane Seda Bittencourt said in the data release posted on FGV's website. Brazil has fallen into its worst recession in 25 years, with its currency at an all-time low and inflation close to 10 percent a year. The approval ratings of President Dilma Rousseff plunged below 10 percent, fueling street protests for her impeachment less than a year after the election. (level) Latest mth Previous mth Year ago Confidence index 76.3 80.6 103.0 Current situation index 67.1 71.4 104.8 Expectations index 81.1 85.7 102.2 (Reporting by Silvio Cascione Editing by W Simon)
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