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Brazil's Consumer Confidence Rises In November

SAO PAULO (Dow Jones)--Brazil's main consumer confidence index picked up in November for the second consecutive month, the Getulio Vargas Foundation, or FGV, said Wednesday.

FGV's Consumer Confidence Index, or ICC, rose to 115.4 points from 113.7 points in October. The index runs from 1 to 200 points, with 100 considered neutral. The figure remains well above the historical average of 107 points, according to FGV.

Brazil's economy has proved resilient in the face of the global economic crisis. The country slipped into recession in the fourth quarter of 2008 and the first quarter of this year. But recovering consumer confidence and rising employment have led to higher retail sales, fueling the nation's recovery.

Brazil's GDP expanded 1.9% in the second quarter compared with the first quarter, with economists predicting steady growth through the end of 2009 and in to 2010.

The ICC index is based on interviews with 2,000 families in Brazil's seven largest cities. The ICC measures the willingness of families to make purchases of various types of consumer goods and gauges expectations about employment, income and economic opportunities.

-By Rogerio Jelmayer, Dow Jones Newswires; 5511-2847-4521; rogerio.jelmayer@dowjones.com

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(END) Dow Jones Newswires

November 25, 2009 05:22 ET (10:22 GMT)


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