Brazil business and consumer confidence declines in September

Economic confidence among businesses and consumers in Brazil declined in September, according to data from FGV IBRE. All four monitored sectors—industry, services, commerce, and construction—recorded drops during the month.

The Business Confidence Index (ICE) fell for the third consecutive month, driven by declines in industrial confidence, which dropped 2.4 points to 91.3, and service sector confidence, which fell to 88.1. The commerce sector saw the most significant retraction, with its index hitting its lowest level since March 2021.

In Campo Grande, local commerce confidence also retreated to 91.7 points, marking ten consecutive months below the 100-point threshold that distinguishes satisfaction from dissatisfaction. This local index remains significantly lower than the national average. Business owners in the region cited expensive credit and economic uncertainty as primary concerns, with over 90% of those surveyed reporting that the Brazilian economy has worsened compared to the previous year.