Brazil: Business confidence deteriorates in February
The Getulio Vargas Foundation’s (FGV, Fundação Getúlio Vargas) industrial business confidence index came in at 107.9 in February, down from January’s 111.3. As a result, the index moved closer to, but still remained above, the 100-point threshold, separating optimism from pessimism among businesses.
February’s result largely came on the back of a deterioration in firms’ assessments of the future economic situation. Moreover, their perception of the current economic situation also turned less optimistic from the previous month.