Brazil: Consumer sentiment hits near one-year high in November
Latest reading: The seasonally adjusted consumer confidence index published by the Getúlio Vargas Foundation (Fundação Getúlio Vargas) increased for the third month running in November to 89.8, up from October’s 88.5. November’s reading was the highest since December 2024. Accordingly, the index moved closer to, but remained below, the 100-point threshold, indicating pessimism among Brazilian consumers,
In November, consumers grew less pessimistic about the economy in the coming months (+93.8 vs +92.8 in October) and their current situation (+84.8 vs +83.0 in October).
Sentiment has improved since September thanks to a strong labor market and declining inflation. That said, elevated interest rates remain a drag amid high household debt.