Brazil: Business confidence slips into pessimistic territory in August
Business sentiment in Brazil weakened in August, with the Getulio Vargas Foundation’s (FGV, Fundaçao Getúlio Vargas) business confidence index falling to 99.7 points from 100.1 points in July. As a result, the index is now below the 100-point threshold and businesses expect economic conditions to deteriorate.
According to the FGV, the deterioration in July was driven by a more downbeat outlook on the current economic situation.