Brazil: Business confidence records worst reading in seven months in March
March 26, 2021
The Getulio Vargas Foundation’s (FGV, Fundação Getúlio Vargas) industrial business confidence index came in at 104.2 in March, down from February's 107.9, marking the weakest reading since August last year. Despite the drop, the index remained above the 100-point threshold, separating optimism from pessimism among businesses.
The headline print reflected a deterioration in firms’ views of the current economic situation, while firms turned pessimistic regarding the future economic situation.
Author: Hanna Andersson, Economist