Brazil: Industrial business confidence index falls for eighth month running in March
The Getulio Vargas Foundation’s (Fundação Getúlio Vargas) industrial business confidence index came in at 95.0 in March, down from February’s 96.7. The reading was the lowest since July 2020 and fell further below the 100-point threshold—indicating pessimism among businesses.
The headline print reflected a deterioration in firms’ views of the current economic situation and more a pessimist outlook of the future economic situation.