Brazil: Business confidence falls to lowest level in over five years
June 30, 2014
Business sentiment fell again in June according to the Getulio Vargas Foundation (FGV, Fundaçao Getulio Vargas) business confidence indicator. The index dropped a seasonally-adjusted 3.9% over the previous month and now rests at 87.2 points, which is down from the 90.7 points tallied in May and marks the lowest level since May 2009. The index is now even further below the 100-point threshold, which signals that businesses are more pessimistic than optimistic.
Firms were markedly more pessimistic regarding both the current and the future situation of the economy as both components of the index fell to the lowest levels since May 2009.