Brazil: Business confidence rises in May
Latest reading: The seasonally adjusted industrial business confidence index published by the Getulio Vargas Foundation (Fundação Getúlio Vargas) rose to 97.1 in May, following April’s 96.0. The latest reading was below the threshold of 100 that separates optimistic from pessimistic sentiment and the highest since May 2025. Business confidence improved in May as demand strengthened and inventories normalized after the initial impact of the Middle East conflict. However, firms remain wary of persistent geopolitical risks, supply chain disruptions, and oil price volatility.
In May, businesses grew more positive about expectations for the coming months (+95.6 vs +95.5 in April) and the current situation (+98.7 vs +96.5 in April).