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Brazil Business Confidence February 2023

Brazil: Business sentiment falls to worst reading since July 2020 in February

The Getulio Vargas Foundation’s (Fundação Getúlio Vargas) industrial business confidence index fell to 92.0 in February, down from January’s 93.1. February’s result marked the weakest sentiment since July 2020. As a result, the index moved further below the 100-point threshold, signaling starker pessimism among businesses.

February’s drop came on the back of a deterioration in firms’ assessment of both the current and the future general economic situation as both became more downbeat from the prior month.

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