Reuters - Financials

Brazil’s consumer confidence sets new low in October

BRASILIA, Oct 26 Brazilian consumer confidence fell for a sixth straight month to a record low in October as a deepening political crisis stoked  pessimism among families, a private survey showed on Monday.     The Getulio Vargas Foundation (FGV) said its confidence index fell to 75.7 in October, the lowest since the data series began in 2005, from 76.3 in September.     "The lack of positive signs in the economic outlook along with political uncertainties kept confidence at record lows. Consumers remain very unsatisfied with the present and pessimistic about the future," FGV economist Viviane Seda Bittencourt said in the data release posted on FGV's website.     Brazil has fallen into its worst recession in 25 years, with its currency near an all-time low and inflation close to 10 percent a year. The approval ratings of President Dilma Rousseff have slipped below 10 percent, fueling street protests calling for her impeachment.               (level)                  Latest mth  Previous mth   Year ago  Confidence index          75.7        76.3           101.5  Current situation index   65.7        67.1           101.8                                                                                                                Expectations index        81.1        81.1           101.6          (Reporting by Silvio Cascione Editing by W Simon)

Reuters: Financials

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