Brazil: Business confidence hits new record low in August
August 31, 2015
Business sentiment fell in August, according to the Getulio Vargas Foundation (FGV, Fundaçao Getulio Vargas) business confidence indicator. The index decreased a seasonally-adjusted 1.6% over the previous month, falling from July’s 69.1 points to 68 points. August’s figure marked the lowest level since the index began in October 2005. The index remains far below the 100-point threshold that signals that businesses are more pessimistic than optimistic.
According to FGB, firms were more pessimistic in August regarding their expectations of the current and future economic situation.