Brazil: Business confidence sinks in February
February 29, 2016
Business sentiment deteriorated in February, according to the Getulio Vargas Foundation (FGV, Fundaçao Getulio Vargas) business confidence indicator. The index decreased a seasonally adjusted 2.0% over the previous month, falling from January’s 76.2 points to 74.7 points. February’s result marked the lowest reading in five months. The index remains far below the 100-point threshold and signals that businesses are more pessimistic than optimistic.
According to FGV, firms were more pessimistic in February regarding their expectations for the current and future economic situations. The FGV revised the historical data for the seasonally-adjusted index in February. Changes in historical values are due to their revision.