Brazil: Consumer sentiment improves while business sentiment deteriorates in July
The seasonally adjusted consumer confidence index published by the Getulio Vargas Foundation (Fundação Getúlio Vargas) rose to 94.8 in July, up from the prior month’s 92.3. The result marked the strongest reading since January 2019. 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 fell to 91.9 in July, deteriorating from June’s 94.0. As such, the index moved further below the 100-point threshold, signaling starker pessimism among industrial firms.