Brazil’s seasonally adjusted FGV-IBRE Consumer Confidence Index fell to 87.3 in January 2025, its lowest level since October. The Expectations Index dropped 2.5 points to 91.3, also the weakest since October. Within expectations, the outlook for the local economy declined sharply, falling 5.8 points to 102.2, while households’ future financial situation fell 4.6 points to 87.8. The only positive contribution came from intended purchases of durable goods, which rose 3.4 points to 85.5, the highest since August. The Current Situation Index also weakened, slipping 0.8 point to 82.6, its second consecutive decline. Within this subindex, perceptions of the current local economy improved by 1.4 points to 95.5, but assessments of households’ current financial situation fell 2.9 points to 70.1. On a three-month moving average, overall confidence edged up 0.1 point to 88.4.