SAO PAULO--Brazil's main consumer confidence index dropped in January to its lowest level since June 2009 due to the country's mediocre economic activity and rising inflationary pressures, the Getulio Vargas Foundation, or FGV, said Friday.
FGV said its consumer confidence index ended January at 108.9 points, down from 112.5 points in December. It was the lowest level since June 2009, when it reached 108.7 points.
The index has a one-point to 200-point range, with 100 considered an indicator of neutral sentiment. After growing only about 1% in 2012, Brazil's economy is projected to report an expansion of 2% in 2013--a rate that economists consider low for a developing nation.
Despite tepid economic activity, the Latin American nation is facing inflationary pressures. The country's inflation rose 5.91% in 2013, up from a 5.84% gain registered in 2012 and above government and analyst estimates.
The consumer confidence index polls 2,000 families in Brazil's seven largest cities. It measures the willingness of families to make purchases of various types of consumer goods and gauges expectations about employment, income and economic opportunities.
nasdaq.com
FGV said its consumer confidence index ended January at 108.9 points, down from 112.5 points in December. It was the lowest level since June 2009, when it reached 108.7 points.
The index has a one-point to 200-point range, with 100 considered an indicator of neutral sentiment. After growing only about 1% in 2012, Brazil's economy is projected to report an expansion of 2% in 2013--a rate that economists consider low for a developing nation.
Despite tepid economic activity, the Latin American nation is facing inflationary pressures. The country's inflation rose 5.91% in 2013, up from a 5.84% gain registered in 2012 and above government and analyst estimates.
The consumer confidence index polls 2,000 families in Brazil's seven largest cities. It measures the willingness of families to make purchases of various types of consumer goods and gauges expectations about employment, income and economic opportunities.
nasdaq.com
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