Brazil: Business confidence falls in December
December 29, 2016
Business sentiment worsened in December, falling to a six-month low. The Getulio Vargas Foundation’s (FGV, Fundaçao Getúlio Vargas) business confidence index decreased a seasonally adjusted 2.5% from the previous month, falling from November’s 87.0 points to 84.8. The index remains far 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.