Brazil: Consumer sentiment improves while business sentiment deteriorates; both remain pessimistic
The seasonally adjusted consumer confidence index published by the Getulio Vargas Foundation (Fundação Getúlio Vargas) rose to 88.2 in May, up from April’s 86.2. May’s result represented the strongest sentiment in six months. As such, the index moved closer to, but remained below, the 100-point threshold, indicating softer pessimism among Brazilian consumers.
Conversely, the seasonally adjusted industrial business confidence index fell to 92.9 in May, down from April’s 94. As such, the index moved further below the 100-point threshold, signaling starker pessimism among industrial firms.