Brazil Consumer Confidence August 2022

Brazil

Brazil: Consumer sentiment hits highest reading in over two years in August

August 25, 2022

The seasonally-adjusted consumer confidence index published by the Getulio Vargas Foundation (Fundação Getúlio Vargas) came in at 83.6 in August, up from July's 79.5. August's result marked the strongest sentiment since February 2020. Despite the improvement, the index remained well below the 100-point threshold, indicating continued pessimism among consumers.

The uptick came on the back of an improvement in consumers' views of the future economic situation.

Panelists participating in the LatinFocus Consensus Forecast project private consumption to grow 1.7% in 2022, which is up 0.2 percentage points from last month’s forecast. For 2023, panelists see private consumption increasing 0.9%.


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Brazil Consumer Confidence August 2022

Note: Index of consumer sentiment (seasonally-adjusted). The 100-point threshold represents the point above which consumers expect economic conditions to improve.
Source: Getulio Vargas Foundation.


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