Brazil: Business confidence edges down from 26-month high in October
October 28, 2016
Business sentiment in Brazil fell in October, according to the Getulio Vargas Foundation’s (FGV, Fundaçao Getúlio Vargas) business confidence indicator. The index decreased a seasonally adjusted 1.8% from the previous month, falling from September’s over two-year high of 88.2 points to 86.6 points. The index remains below the 100-point threshold that signals that businesses are more pessimistic than optimistic.
According to FGV, the result came on the back of firms’ more pessimistic views regarding the current and future economic situation.