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Brazil Consumer Confidence October 2020

Brazil: Consumer confidence falls for first time in six months in October

The seasonally-adjusted consumer confidence index published by the Getulio Vargas Foundation came in at 82.4 in October, down slightly from September’s 83.4. October’s reading marked the first fall in consumer sentiment since April and as a result, the index moved further below the 100-point threshold, which indicates pessimism among consumers.

The downturn likely reflected persistent worries over the Covid-19 health crisis and was chiefly driven by consumers’ more pessimistic views of the future economic situation. Moreover, consumers’ perception of the current economic situation also soured.

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