Brazil Consumer Confidence Hits Lowest Level Since 2022
2 sources · Brazil
Who reported this
- UOL
- CNN Brasil
What the colours mean
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- Centre-left
- Centre
- Centre-right
- Right
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Every source for this story reports from Brazil.
Consumer confidence in Brazil fell for the fourth consecutive month in August, reaching its lowest level since the end of 2022. According to data released Tuesday by the Fundação Getúlio Vargas (FGV), the Consumer Confidence Index (ICC) dropped 3.6 points to 84.7 points. This figure is only slightly above the low of 83.5 points recorded in November 2022.
The decline was seen across various metrics. The Current Situation Index (ISA) fell 0.6 point to 83.8 points, while the Expectations Index (IE) dropped 5.4 points to 86.1 points, which is the lowest level since July 2022. FGV economist Anna Carolina Gouveia noted that the results were consistent across all income brackets. She attributed the decline to high levels of household debt, delinquency, and high interest rates, which have specifically impacted the perception of future financial situations and the planned purchase of durable goods.
Gouveia stated that these trends suggest a slowdown in family consumption for the second half of the year, despite a strong labor market.
How each side framed it
- Centre-left
- The center-left outlet reported the primary finding that confidence hit its lowest level since late 2022.
- Centre
- The center outlet focused on the specific statistical breakdown of the indices and the economic drivers cited by the FGV economist.
Sources
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