Brazil: Business confidence rises further in February

Business sentiment in Brazil improved in February, with the Getulio Vargas Foundation’s (FGV, Fundaçao Getúlio Vargas) business confidence index rising to 99.0 points from 98.2 points in January. Despite the rise, the index lies below the 100-point threshold and signals pessimism among firms.

According to the FGV, the improvement was driven by firms’ less downbeat assessments of the current economic situation, while their expectations on the future economic situation weakened slightly.

Brazil Fixed Investment Forecast

Panelists surveyed for this month’s LatinFocus report see fixed investment rising 5.4% in 2019, which is unchanged from last month’s forecast. For 2020, panelists expect fixed investment to also grow 5.0%.