Brazil: Business sentiment grows more pessimistic in January
The Getulio Vargas Foundations (Fundação Getúlio Vargas) industrial business confidence index dropped marginally to 93.1 in January, down from Decembers 93.3. As a result, the index moved further below the 100-point threshold, signaling starker pessimism among businesses.
Januarys downtick came on the back of a deterioration in firms assessment of the current economic situation. This, more than offset an improvement in firms views regarding the future economic situation—albeit they remained pessimistic in January.