Brazil: Consumer and industrial sentiment inch up in March
Latest reading: The seasonally adjusted consumer confidence index published by the Getulio Vargas Foundation (Fundação Getúlio Vargas) rose for the first time since November 2024 to 84.3 in March, up from February’s 83.6. As a result, the index moved closer to, but remained below the 100-point threshold, indicating stark pessimism among Brazilian consumers.
Similarly, the seasonally adjusted industrial business confidence index inched up to 98.4 in March from February’s 98.3. As such, the index moved further below the 100-point threshold, signaling pessimism among industrial firms.
Outlook: Elevated interest rates, prospects of additional rate increases and rising inflation are likely to hold sentiment hostage in pessimistic territory in the coming months.