* Confidence index falls from 121.7 in October
* Gauge still remains above historical average
SAO PAULO Nov 26 Consumer confidence in Brazil
fell in November for the second month in a row as the outlook
for the economy in the coming months showed the weakest reading
since February, a private survey showed on Monday.
Brazilian think tank Fundação Getúlio Vargas said its
consumer confidence index fell to a reading of 120.0
in November from 121.7 in the prior month on a seasonally
Despite the drop, the index remained above its historical
average, FGV said in a report. Robust consumption, supported by
low unemployment and rising salaries, has been Brazil's main
growth engine over the past decade.
The survey's barometer of current economic conditions
dropped to a reading of 136.7 from 137.7 in October, while the
gauge for consumer expectations about the next six months
slipped to a reading of 111.6 from 113.8, the lowest since
The share of consumers who consider current economic
conditions as "good" shrank to 24.7 percent from 24.9 percent,
and the share of those who see conditions as "bad" rose to 22.0
percent from 20.3 percent in October.
The share of consumers who expect an improvement in economic
conditions shrank to 32.6 percent from 34.0 percent, while the
share of those who expect worse conditions rose to 14.1 percent
from 11.7 percent one month before.
FGV's consumer confidence survey is based on interviews with
over 2,000 people in seven large Brazilian cities between Oct.
31 and Nov. 22.