Brazil consumer confidence drops to 84.2 points in September

The Consumer Confidence Index (ICC) calculated by the Brazilian Institute of Economics of the Getulio Vargas Foundation (FGV Ibre) dropped 0.5 points in September to 84.2 points. This marks the lowest reading since November 2022, when it stood at 83.5 points. In the three-month moving average, the indicator decreased 1.5 points to 85.7 points.

The retreat represents the fifth consecutive monthly decrease, accumulating a loss of 4.9 points over the period. FGV Ibre economist Rodolpho Tobler stated that the deterioration in September was driven entirely by deteriorating expectations, while current condition indicators showed slight improvement. Tobler noted that the result was mitigated by a recovery among lower-income consumers, particularly regarding their future financial situation, possibly linked to adjustments in social benefit payments.

The Expectations Index (IE) declined 0.9 points to 85.2 points, its lowest level since May 2022 at 84.0 points. Within the IE, the durable goods purchase intentions index fell 2.4 points to 72.3 points, and the future local economic situation index dropped 1.3 points to 102.0 points, its lowest level since August 2025 at 97.3 points. Conversely, the household future financial situation index gained 1.0 point to 83.9 points after four consecutive monthly declines.

The Current Situation Index (ISA) rose 0.2 points to 84.0 points. Among its components, the current local economic situation index advanced 0.4 points to 94.0 points following three months of declines. The current household financial situation index increased 0.1 point to 74.4 points.