Brazil Consumer Confidence Hits 11-Month High

Brazil's seasonally adjusted FGV-IBRE Consumer Confidence Index retreated 0.3 points to 88.8 in May 2026, following two consecutive months of improvement. The survey showed mixed signals across components, with the Expectations Index (IE) falling 1.0 point to 91.3, while the Current Situation Index (ISA) rose 0.8 points to 86.1, its highest level since December 2014 (86.5). The decline was driven by weaker expectations for the coming months alongside a still favorable assessment of current conditions, with the current situation index holding at its highest level since end-2014. Consumers earning up to R$4,800 showed a deterioration in future expectations, reflecting greater sensitivity to economic uncertainty. Overall, the May results point to stable current conditions but increased caution about the outlook ahead,” said Anna Carolina Gouveia, economist at FGV IBRE.

Brazil's seasonally adjusted FGV-IBRE Consumer Confidence Index advanced 1 point to 89.1 in April 2026, its highest level since December 2025. The increase was influenced by improvements in both survey horizons, with current conditions providing the main boost. The current situation index rose 2.1 points to 83.2, as the indicator of the households' current financial situation rose 3.9 points to 76.0 points, the highest level since February 2020, and the indicator of the current local economic situation advanced 0.3 points to 95.0 points. At the same time, the expectations index edged up 0.2 points to 92.3 points, with the indicator of households’ future financial situation rising 0.9 points to 90.3, its highest since December 2025, while prospects for the economy stayed at 105.5. Planned purchases of durable goods, however, slipped 0.3 points to 82.5.

Brazil's seasonally adjusted FGV-IBRE Consumer Confidence Index rose 2.0 points to 88.1 in March 2026, its highest level since December 2025. The gain was driven by improved expectations for the coming months. The Expectations Index jumped 3.4 points to 92.1, with household future financial situation rising 6.5 points to 89.4 and future local economic situation advancing 1.8 points to 105.5, both reaching December 2025 highs. Planned durable goods purchases rose 1.1 points to 82.8. The Current Situation Index fell 0.3 points to 83.2, as current local economic situation declined 1.4 points to 94.7, though current household financial situation rose 0.8 points to 72.1. Confidence improved across most income groups except those earning over R$9,600. On a three-month moving average, confidence fell 0.3 points to 87.2.