Brazil's consumer confidence deteriorated more than economists expected in May, after rising to a record high in the previous month, data released by the Getulio Vargas Foundation showed Friday.
The consumer confidence index dropped to 127.1 in May from April's record high reading of 128.7, while economists were looking for a score of 128.5.
The current situations sub-index, which measures households' views of the current economic situation, dropped to 145.5 in May from 148.1 in April.
At the same time, consumers' views of the future economic situation turned less optimistic during the month, with the relevant indicator falling to 117 from 118.3 in the previous month, data showed.
by RTT Staff Writer
For comments and feedback: email@example.com