Brazil: Business confidence falls to lowest level on record
April 30, 2015
Business sentiment deteriorated further in April, according to the Getulio Vargas Foundation (FGV, Fundaçao Getulio Vargas) business confidence indicator. The index decreased a seasonally-adjusted 3.4% over the previous month and now stands at 72.8 points, the lowest level since the record began in October 2005. In March, the index stood at 75.4 points. As a result, the index is further 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 future situation of the economy. In contrast, firms were slightly more optimistic regarding the current situation of the economy.