Brazil’s trade entrepreneur confidence inches down in September
Brazil’s trade entrepreneur confidence index slipped by 0.4% m/m in September, seasonally adjusted, after increasing for three months in a row. According to the National Confederation of Goods, Services and Tourism Trade (CNC), all the three sub-indexes declined in the month.
The expectations indicator fell by 0.9% m/m, followed by the ones of investment intention (-0.7% m/m) and current conditions (-0.3% m/m). Brazilians’ purchasing power has been deteriorating in 2021, amid rising inflation, high unemployment rate and the expectation of interest rate hikes by the Central bank. On a yearly basis, however, the overall index rose by 30.2% y/y in September, after jumping by 55.6% y/y and 47.2% y/y in July and August, respectively.
Further data and analysis on Brazil’s economy are available on the CEIC Brazil Economy in a Snapshot – Q2 2021 report.