Brazil: Business confidence retreats in March
March 26, 2013
In March, the business confidence index published by the Getulio Vargas Foundation (FGV, Fundacao Getulio Vargas) declined a seasonally adjusted 1.5% over the previous month to 105.0 points. The drop reflected a decline in both the expectations index as well as in the present situation index.
Despite the decrease, the index remains above the 100-point threshold for almost four years, indicating that optimism prevails among businesses. That said, business confidence is below the post-crisis peak of 116.5 points recorded in March 2010.
LatinFocus Consensus Forecast participants see fixed investment expanding 4.8% in 2013, which is down 0.3 percentage points from last month's forecast. For 2014, panellists expect fixed investment growth to accelerate to a 6.3% expansion.