September’s volume performance confirms the slowdown in activity and loss of momentum that other indicators were already showing, primarily as a result of high levels of household debt and sky-high interest rates, which are hitting consumers even harder. Although these two factors could not overcome the job market in the second half of 2025, this is still a positive point. This assessment was made by Georgia Veloso, an economist at the Brazilian Institute of Economic Research (FGV Ibre).
About The Author
