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Brazil Economic Sentiment June 2024

Brazil: Consumer and industrial business sentiment improve in June

The seasonally adjusted consumer confidence index published by the Getulio Vargas Foundation (Fundação Getúlio Vargas) rose to 91.1 in June, up from May’s 89.2. As a result, the index moved closer to, but remained below, the 100-point threshold, indicating softer pessimism among Brazilian consumers.

Similarly, the seasonally adjusted industrial business confidence index improved to 98.4 in June, up from May’s 98.4 and hitting a 21-month high. Accordingly, the index moved closer to, but remained below, the 100-point threshold, signaling only marginal pessimism among industrial firms.

The improvement in industrial business sentiment bodes well for investment in the industrial sector in Q2. Similarly, less downbeat consumer sentiment—on average—hints at a resilient private consumption performance in Q2.

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