Brazil: Business confidence falls to lowest level in over six years
March 31, 2015
Business sentiment fell in March, according to the Getulio Vargas Foundation (FGV, Fundaçao Getulio Vargas) business confidence indicator. The index decreased a seasonally-adjusted 9.2% over the previous month and now stands at 75.4 points, which is down from the 83.0 points tallied in February. March’s result marks the lowest level since January 2009. As a result, the index is further down from the 100-point threshold that signals that businesses are more pessimistic than optimistic.
According to FGB, firms were more pessimistic in March regarding their expectations of the current and future situation of the economy.