Brazil: Business confidence drops in election month
October 31, 2018
Business sentiment in Brazil weakened at the start of the fourth quarter, with the Getulio Vargas Foundation’s (FGV, Fundaçao Getúlio Vargas) business confidence index falling to 94.1 points in October from 96.1 points in September. As a result, the index is now further below the 100-point threshold and businesses expect economic conditions to deteriorate.
According to the FGV, the deterioration was driven by more downbeat outlooks on both the current and future economic situation.