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Brazil Business Confidence January 2023

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.

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