Brazil: Business confidence drops to lowest level since October in July
Business sentiment in Brazil deteriorated again in July, falling to the lowest level since October 2018. The Getulio Vargas Foundation’s (FGV, Fundaçao Getúlio Vargas) business confidence index fell to 94.8 points in July from 95.7 points in June. The index lies below the 100-point threshold and signals pessimism among firms.
According to the FGV, the deterioration was driven by firms more pessimistic assessment of the current economic situation.