Brazil Business Confidence June 2017


Brazil: Business confidence drops in June

June 29, 2017

Business sentiment dropped in June from May’s three-year high. The Getulio Vargas Foundation’s (FGV, Fundaçao Getúlio Vargas) business confidence index declined a seasonally-adjusted 3.0% from the previous month, dropping to 89.5 points from May’s 92.3 points. The index still remains below the 100-point threshold that signals that businesses are more pessimistic than optimistic.

According to FGV, the result came as firms grew more pessimistic after a new political scandal directly implicating the president erupted in May. Growing political uncertainty has weighed down businesses expectations for the current and future economic scenario.

Panelists surveyed for this month’s LatinFocus report see fixed investment growing 1.7% in 2017, which is down 0.1 percentage points from last month’s forecast. For 2018, panelists expect fixed investment to grow 6.7%.


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Brazil Business Confidence Chart

Brazil Business Confidence June 2017

Note: Index of business sentiment (seasonally adjusted). The 100-point threshold represents the point above which businesses expect economic conditions to improve.
Source: Getulio Vargas Foundation.

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