Brazil: Consumer sentiment declines in January
Latest reading: The seasonally adjusted consumer confidence index published by the Getúlio Vargas Foundation (Fundação Getúlio Vargas) fell to 87.3 in January, following December’s 89.1. January’s fall ended a four-month streak of improvements, and moved consumer sentiment further below the 100-point threshold deeper into pessimistic territory. Still-elevated interest rates combined with high levels of household indebtedness likely weighed on consumers during the month.
In January, households grew more pessimistic about the economy in the coming months (+91.3 vs +93.8 in December), and their current situation (+82.6 vs +83.4 in December).