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Brazil Economic Sentiment June 2023

Brazil: Consumer and business sentiment improve but remain pessimistic in June

The seasonally adjusted consumer confidence index published by the Getulio Vargas Foundation (Fundação Getúlio Vargas) climbed to 92.3 in June, up from May’s 88.2. The result marked the strongest reading since February 2019. As such, the index moved closer to, but remained below, the 100-point threshold, indicating milder pessimism among Brazilian consumers.

Similarly, the seasonally adjusted industrial business confidence index rose to 94.0 in June. Up from the prior month’s 92.9. As such, the index moved closer to, but remained below, the 100-point threshold, signaling continued pessimism among industrial firms.

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