Brazil: Business confidence falls again in July
July 31, 2012
In July, the business confidence index published by the Getulio Vargas Foundation (FGV, Fundacao Getulio Vargas) decreased a seasonally adjusted 0.5% over the previous month to 102.7 points. The reading reflected a fall in the present situation index, whereas the expectations index rose over the previous month. As a result of the monthly figure, the index still sits close to the 100-point threshold, indicating relatively subdued optimism levels. Moreover, business confidence remains well below the post-crisis peak of 116.5 points recorded in March 2010. Subdued confidence in the business community is likely to weigh on investment growth going forward.