Brazil: Consumer confidence worsens in May
Latest reading: The seasonally adjusted consumer confidence index published by the Getulio Vargas Foundation (Fundação Getúlio Vargas) dropped to 88.8 in May, following April’s 89.1. The latest reading was below the threshold of 100 that separates optimistic from pessimistic sentiment. Consumer confidence eased in May after two months of gains, driven by higher inflation and weaker expectations for the months ahead, particularly among lower-income households, despite continued positive assessments of current economic conditions.
In May, households grew less optimistic about the economy in the coming months (+91.3 vs +92.3 in April), yet more optimistic about their current situation (+86.1 vs 85.3).