Brazil's consumer confidence hits highest since January 2015
BRASILIA, Aug 24 (Reuters) - Consumer confidence in Brazil rose for the fourth straight month in August, hitting a 1-1/2-year high and fueling hopes that the country's two-year recession is nearing an end. The Getulio Vargas Foundation index of consumer confidence rose to 79.3 in August, its highest since January 2015, from 76.7 in July. "About 90 percent of the improvement in consumer confidence over the previous four months had been determined by better expectations," FGV economist Viviane Bittencourt said. "In August, though, most of the improvement came from greater satisfaction with present conditions, which is a favourable sign." Consumer confidence had plunged to record lows as Brazil's economy entered its worst recession in probably more than a century and unemployment surpassed 10 percent. (level) Latest mth Previous mth Year ago Confidence index 79.3 76.7 70.0 Current situation index 69.5 65.7 72.4 Expectations index 86.9 85.3 69.7 (Reporting by Silvio Cascione; Editing by Lisa Von Ahn)
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