Rebound in Brazil's consumer confidence fizzles in March

martes 29 de marzo de 2016 07:29 GYT

Consumer confidence in Brazil fell in March, cutting a brief
recovery short and returning to near record lows as a recession
deepens, a private survey showed on Tuesday.
    An index of consumer confidence fell to 67.1 in March from
68.5 in February, according to private think tank
Fundação Getúlio Vargas (FGV). It had risen for two consecutive
months after a record low of 64.9 in December.
    "Consumer confidence was down again in March after a
tentative recovery as households' finances worsened," FGV
economist Viviane Bittencourt said in a note.
    Confidence fell across income groups, with a measure of
satisfaction about current financial conditions hitting a record
low among consumers earning up to 2,100 reais ($579.53) a month.
    Brazil's economy is expected to contract sharply for a
second straight year in 2016 as a deep political crisis clouds
the outlook for businesses and consumers, in the longest
expected recession for the country in more than a century.
  (level)                  Latest mth  Previous mth   Year ago
 Confidence index          67.1        68.5           74.8
 Current situation index   66.3        69.1           78.0
 Expectations index        69.0        69.4           73.8
($1 = 3.6236 Brazilian reais)

 (Reporting by Silvio Cascione; Editing by Chizu Nomiyama)