Brazil: Downward trend in business confidence continues in September
September 25, 2014
Business sentiment fell in September for the ninth consecutive month, according to the Getulio Vargas Foundation (FGV, Fundaçao Getulio Vargas) business confidence indicator. The index dropped a seasonally-adjusted 2.8% over the previous month and now rests at 81.1 points, which is down from the 83.4 points tallied in August and marks the lowest level since March 2009. The index is now even further below the 100-point threshold, which signals that businesses are more pessimistic than optimistic.
Firms were significantly more pessimistic regarding their expectations of the future situation of the economy. Similarly, business sentiment toward the current situation of the economy fell to the lowest level since March 2009.