Brazil’s industrial production contracted sharply in December and finished last year with its steepest decline since 2009, as rising interest rates, weak demand and waning confidence from consumers and businesses weighed on output.
The reading of consumer confidence dropped in Brazil in January--to its lowest level ever--as the country's economy struggled. Brazil's main consumer-confidence index was at 89.8 points in January, down from 96.2 points in December, the Getulio Vargas Foundation, or FGV, said earlier this week.