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Brazil Economic Sentiment February 2024

Brazil: Industrial business sentiment stable while consumer sentiment deteriorates further in February

The seasonally adjusted consumer confidence index published by the Getulio Vargas Foundation (Fundação Getúlio Vargas) fell to 89.7 in February, down from the prior month’s 90.8. As such, the index moved further below the 100-point threshold, indicating starker pessimism among Brazilian consumers.

Meanwhile, the seasonally adjusted industrial business confidence index was stable at January’s 97.4 in February. February’s result was the joint-strongest sentiment since September 2022. Consequently, the index remained below the 100-point threshold, signaling moderate pessimism among industrial firms.

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