Brazil: Consumer sentiment hits 11-month high in July but remains entrenched in pessimistic territory
The seasonally-adjusted consumer confidence index published by the Getulio Vargas Foundation (Fundação Getúlio Vargas) came in at 79.5 in July, up from June’s 79.0. July’s result marked the strongest sentiment since August 2021. Despite the uptick, the index remained well below the 100-point threshold, indicating continued pessimism among consumers.
The rise came chiefly on the back of an improvement in consumers’ assessments of the future economic situation.