Brazil: Business confidence edges down in June
June 27, 2013
In June, the business confidence index published by the Getulio Vargas Foundation (FGV, Fundacao Getulio Vargas) decreased a seasonally adjusted 1.1% over the previous month to 103.8 points. The fall reflected a decline in the present situation index as well as in the expectations index.
Despite the drop, the index has now remained above the 100-point threshold for almost four years, indicating that optimism prevails among businesses. That said, business confidence is still well below the post-crisis peak of 116.5 points recorded in March 2010.
LatinFocus Consensus Forecast participants see fixed investment expanding 4.6% in 2013, which is up 0.1 percentage points from last month's forecast. For 2014, panellists expect fixed investment growth to accelerate to a 5.6% expansion.