Rebound in Brazil's consumer confidence fizzles in March
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)
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