Brazil consumer confidence hits lowest in three years

Consumer confidence in Brazil fell in March for the sixth month in a row to the lowest in three years, a private survey showed on Monday, raising doubts about the current economic recovery in Latin America's largest country. Brazilian think tank Fundação Getúlio Vargas (FGV) said its consumer confidence index fell to a reading of 113.9 in March from 116.2 in the previous month, down 11.5 percent from an all-time high in April 2012.
The survey's barometer of the current economic situation dropped to a reading of 124.5, from 128.9 in February, while the gauge of future expectations slipped to 108.0 from 109.6. Household consumption, supported by low unemployment and rising salaries, has been Brazil's main growth engine over the past decade.