Brazil consumer confidence hits new low in April
BRASILIA, April 26 (Reuters) - Consumer confidence in Brazil fell for a second straight month in April to a record low, a private survey showed on Tuesday, amid a political crisis and the worst recession in decades. The consumer sentiment index calculated by think tank Getulio Vargas Foundation dropped to 64.4 in April from 67.1 in March after seasonal adjustments, mostly due to an increase in pessimism about the future. "The economic and political scenarios seem difficult to be solved quickly," FGV economist Viviane Bittencourt said. Confidence fell across income groups, with the sharpest contraction among consumers earning more than 9,600 reais ($2,703) a month, FGV said. 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 and threatens to cut short the mandate of President Dilma Rousseff. The current recession is expected to be the longest and deepest in Brazil in more than a century. (level) Latest mth Previous mth Year ago Confidence index 64.4 67.1 75.3 Current situation index 64.7 66.3 79.0 Expectations index 65.8 69.0 73.8 ($1 = 3.5513 Brazilian reais)
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