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Brazil Economic Sentiment October 2023

Brazil: Sentiment deteriorates among consumers and industrial-sector business in October

The seasonally adjusted consumer confidence index published by the Getulio Vargas Foundation (Fundação Getúlio Vargas) declined to 93.2 in October, notably down from the prior month’s 97.0. October’s result marked the weakest sentiment since June. As such, the index moved further below the 100-point threshold, indicating starker pessimism among Brazilian consumers.

Similarly, the seasonally adjusted industrial business confidence index fell marginally to 90.8 from the previous month’s 91.0. October’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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