Brazil consumer confidence continued to fall for the second consecutive quarter in the latest Nielsen Global Survey of Consumer Confidence and Spending Intentions. Specifically, Brazil consumer confidence fell seven points to 88 – the lowest level since 2009.
In addition, Brazilian sentiment about future job prospects fell 10 percentage points to 27% – a new low for the country, while personal finances sentiment fell six percentage points to 60%, the second lowest level in 10 years. The number of Brazilians who believed the country to be in recession increased to 85% from 73% the previous quarter and from 55% from a year ago.
Luis Arjona, the Country Manager for Nielsen Brazil, commented:
“In Brazil, the results reflect the uncertainty over the country’s ability to increase growth rates in the short-term, return to more moderate inflation levels and avoid further unemployment increase. Concerned with the overall economic environment, Brazilian consumers have become more conservative with their disposable income, reducing out-of-home spending, while buying more on planned trips at grocery stores. They are also increasing the share of grocery spend at discount stores and reducing spend on impulse categories.”
To read the press release, Global Consumer Confidence Is More Upbeat in 2015, but Variation Exists Across Markets, or the full report, Q1 2015 Consumer Confidence Report, go to the website of Nielsen. In addition, check out our Brazil ETFs list.
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