Brazil: Businesses confidence falls further into pessimistic territory in March
March 27, 2014
Business confidence was down in March according to the Getulio Vargas Foundation (FGV, Fundacao Getulio Vargas). The index decreased a seasonally-adjusted 2.3% over the previous month and now rests at 96.2 points, down from the 98.5 points tallied in February. As a result, the index moved even further below the 100-point threshold, which signals that businesses are more pessimistic than optimistic. Firms' more negative assessment of current business conditions was the main driver behind the decline. Their outlook on business in the coming months also decreased. LatinFocus Consensus Forecast participants see fixed investment expanding 2.9% in 2014, which is down 0.2 percentage points from last month's forecast. For 2015, panelists also expect fixed investment to expand 2.9%.