Report published August 31, 2026
Brazil: Consumer and Business Confidence Softened Further in August 2026 — Goldman Sachs
Source and citation context
- Issuer
- Goldman Sachs
- Report date
- August 31, 2026
- Analysis as of
- Not stated in source
Authors / editors: Alberto Ramos (Author)
Finvaulta summarizes Goldman Sachs's analysis. Attribute opinions, forecasts, time-sensitive values, and chronology to the issuer and report date; do not treat this page as an independent verification or a current market-data source.
Brazil's FGV consumer confidence dropped 3.6 points to 84.7 in August 2026, hitting its lowest mark since November 2022, while composite business confidence fell 0.5 points to 91.1. Sentiment across both indicators remains firmly in pessimistic territory below the 100-point threshold.
Key Takeaways
- 1.FGV's consumer confidence index dropped 3.6 points in August to 84.7, reaching its lowest level since November 2022.
- 2.The composite business confidence index fell 0.5 points to 91.1 in August, dragged down by manufacturing, retail/commerce, and construction.
- 3.Both current conditions and forward-looking expectations for consumer and business sentiment remain firmly below the 100 optimism/pessimism threshold.
Table of Contents
- Brazil: Consumer & Business Confidence Softened Further in August (Ramos)
- DETAILS:
- Eroding Consumer Confidence
- Aggregate Business Confidence Indicator
- Disclosure Appendix
Report data
Seasonally adjusted Consumer & Business Confidence breakdown (Dec-23 to Aug-26)
| Metric | Estimate | Context |
|---|---|---|
| FGV Consumer Confidence Index | 84.7 points | Lowest level since November 2022 |
| FGV Consumer Confidence Expectations Component | 86.1 points | Lowest level since July 2022 |
| FGV Composite Business Confidence Index | 91.1 points | Adding to a 1.4pt decline in July |
| Manufacturing Confidence | 93.7 points | Business confidence component |
| Retail/Commerce Confidence | 84.2 points | Weakest sentiment among the four main sectors |
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Authors / Editors
Reported Data Context
- FGV Consumer Confidence Index: 84.7 points (2026-08) · Source: FGV
- FGV Consumer Confidence Expectations Component: 86.1 points (2026-08) · Source: FGV
- FGV Composite Business Confidence Index: 91.1 points (2026-08) · Source: FGV
- Manufacturing Confidence: 93.7 points (2026-08) · Source: FGV
- Retail/Commerce Confidence: 84.2 points (2026-08) · Source: FGV
Themes
Regions
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