Brazil: Business confidence recedes in December from five-month high
January 15, 2015
Business sentiment fell in December, according to the Getulio Vargas Foundation (FGV, Fundaçao Getulio Vargas) business confidence indicator. The index decreased a seasonally-adjusted 1.5% over the previous month and now stands at 84.3 points, which is down from the 85.6 points tallied in November. November’s result had marked a five-month high. As a result, the index rests further below the 100-point threshold, which signals that businesses are more pessimistic than optimistic.
Firms were more pessimistic regarding their expectations of the current situation of the economy, as well as toward the future situation of the economy.