Brazil Business Confidence


Business confidence continues to weaken

The business confidence index published by the Getulio Vargas Foundation (FGV, Fundacao Getulio Vargas) worsened in June, declining a seasonally adjusted 2.5% to 107.1 points. The decrease mainly reflected falling optimism regarding the present situation (-3.5% month-on-month), while the expectations index dropped 1.7% mom. Despite six consecutive months of moderating confidence among businesses, sentiment remains at elevated levels, standing 8.1% below the post-crisis peak of 116.5 points recorded in March last year. Since breaking into optimistic territory in August 2009, the index has hovered above the 100-point threshold that separates optimism from pessimism. High levels of optimism in the business community are likely to support investment growth going forward.


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