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Brazil Economic Sentiment September 2023

Brazil: Consumer sentiment improves again while business sentiment deteriorates further in September

The seasonally adjusted consumer confidence index published by the Getulio Vargas Foundation (Fundação Getúlio Vargas) rose to 97.0 in September, up from the prior month’s 96.8. September’s result marked the strongest reading since February 2014. As such, the index moved closer to, but remained below, the 100-point threshold, indicating milder pessimism among Brazilian consumers.

Conversely, the seasonally adjusted industrial business confidence index dropped to 91.0 in September, deteriorating form August’s 91.4. September’s result was the weakest sentiment since July 2020. As such, the index moved further below the 100-point threshold, signaling starker pessimism among industrial firms.

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