Brazil: Business confidence eases in May
Business sentiment in Brazil deteriorated in May, erasing April’s gains. The Getulio Vargas Foundation’s (FGV, Fundaçao Getúlio Vargas) business confidence index fell to 97.2 points from April’s 97.9 points. The index lies below the 100-point threshold and signals pessimism among firms.
According to the FGV, the deterioration was driven by firms more pessimistic assessments of the future economic situation.