Brazil: Industrial business sentiment improves while consumer sentiment deteriorates notably in January
The seasonally adjusted consumer confidence index published by the Getulio Vargas Foundation (Fundação Getúlio Vargas) fell to 90.8 in January, down from the prior month’s 93.2. January’s result marked the weakest sentiment in eight months. As such, the index moved further below the 100-point threshold, indicating starker pessimism among Brazilian consumers.
Conversely, the seasonally adjusted industrial business confidence index rose to 97.4 in January, up from December’s 95.6. January’s result was the strongest sentiment since September 2022. Consequently, the index moved closer to, but remained below, the 100-point threshold, signaling more moderate pessimism among industrial firms.