real wages. The short-term outlook for employment and economic activity remains very negative.
Consumerconfidence fell sharply in September
After falling 1.7% MoM in August, the FGV index ... consumerconfidence plummeted 5.3% MoM to 76.3 in
September, setting another all-time low. The current conditions index plunged 6.0% MoM to 67.1 (as only 3% of
the interviewees considered ... situation "good"), and the expectations index fell 5.4% to 81.1.
The steady decline in consumerconfidence has been driven by rising unemployment, high inflation, political
turmoil and increase in financial