Brazil: Consumer sentiment improved while industrial business sentiment wanes in March
The seasonally adjusted consumer confidence index published by the Getulio Vargas Foundation (Fundação Getúlio Vargas) rose to a three-month high of 91.3 in March, up from February’s 89.7. As such, the index moved closer to, but remained below, the 100-point threshold, indicating pessimism among Brazilian consumers.
Conversely, the seasonally adjusted industrial business confidence index declined to 96.5 in March from February’s 97.4. Consequently, the index moved further below the 100-point threshold, signaling starker pessimism among industrial firms.