Brazil: Consumer sentiment hits highest reading in over two years in August
The seasonally-adjusted consumer confidence index published by the Getulio Vargas Foundation (Fundação Getúlio Vargas) came in at 83.6 in August, up from July’s 79.5. August’s result marked the strongest sentiment since February 2020. Despite the improvement, the index remained well below the 100-point threshold, indicating continued pessimism among consumers.
The uptick came on the back of an improvement in consumers’ views of the future economic situation.