The Consumer Confidence Index (ICC), calculated by the Brazilian Institute of Economics (FGV/IBRE) decreased 2.1% between December 2013 and January 2014, when it moved downwards from 111.2 to 108.9 points. With the result, the index remained below the historical average of 115.9 points for the eleventh consecutive month and reached the lowest level since June 2009 (108.7 points).According to IBRE, the largest contribution to the decrease of the ICC in January came from the Expectations Index (IE), which decreased 2.6% (105.6 points) - the lowest score since September 2011 (104.1). The Current Situation Index (ISA) decreased 2.1%, when it moved from 118.1 to 115.6 points, below the average of the last five years (129.1) for the twelfth consecutive month.The institute also pointed out that the evaluation of consumers with respect to the general situation of the economy has deteriorated again: the proportion of consumers who considered the situation as good decreased from 15.6% to 14.2%, while those who evaluated it as bad increased from 33.8% to 35.7%. In the last twelve months, the indicator that measures satisfaction with the local economic situation remained below the historical average of 95.5 points.Consumers are also less optimistic about the possibility of economic recovery. The indicator that measures the degree of optimism regarding the future economic situation decreased 3% in January. The share of consumers who expect an improvement decreased from 26.6% to 26.5% and those who expect deterioration increased from 20.0% to 23.1%. The indicator of 103.4 points remained below the historical average (112.0) for the thirteenth month and it is the lowest since October 2011 (99.6).The Survey of Consumer Expectations is made based on a sample of about 2,000 households, located in seven of the main Brazilian capitals. Data collection for the January 2014 edition was held on January 2nd - 21st.Please click here and check out the complete survey (in Portuguese).