Brazil: Business confidence remains largely stable in May
Business sentiment in Brazil was broadly stable in May, with the Getulio Vargas Foundation’s (FGV, Fundaçao Getúlio Vargas) business confidence index inching up to 101.1 points in May from 101.0 points in April. The index remained above the 100-point threshold that separates optimism from pessimism among businesses for the fourth consecutive month.
According to the FGV, a more favorable outlook on both the current and future economic situation in May contributed to the uptick. That said, an FGV analyst noted in the May press release that political and economic uncertainty continued to weigh on firms’ confidence in the month.