Brazil: Downward trend in business confidence continues in August
August 27, 2014
Business sentiment fell in August for the eighth consecutive month, according to the Getulio Vargas Foundation (FGV, Fundaçao Getulio Vargas) business confidence indicator. The index dropped a seasonally-adjusted 1.2% over the previous month and now rests at 83.4 points, which is down from the 84.4 points tallied in July and marks the lowest level since April 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 the current situation of the economy. However, business sentiment toward the future situation of the economy rose to the highest level in eight months.