SAO PAULO (Reuters) - Consumer confidence in Brazil dropped in December for a second month and hit its lowest since June, a private survey showed on Friday, as hopes of a quicker exit from recession under President Michel Temer were frustrated.
The Getulio Vargas Foundation (FGV) index of consumer confidence BRCCI=ECI fell to 73.3 in December from 79.1 in November.
“The year ends with consumers dissatisfied with their current situation and pessimistic about the next months. Their view about the labor market is the bleakest in 11 years,” FGV economist Viviane Bittencourt said in a statement.
Brazil’s economy plunged deeper into recession in the third quarter, confounding analysts who expected a gradual recovery to start following the impeachment of former president Dilma Rousseff. Her successor, facing growing calls to resign, has launched two rounds of stimulus measures in recent weeks.
Reporting by Silvio Cascione; Editing by Robin Pomeroy