Brazil: Industrial business confidence falls for fifth month running in December
The Getulio Vargas Foundation’s (Fundação Getúlio Vargas) industrial business confidence index came in at 100.1 in December, down from 102.1 in November. While the reading was the lowest since August 2020, the index still remained marginally above the 100-point threshold, indicating optimism among businesses.
December’s moderation reflected a deterioration in firms’ views of the current economic situation, while their perception of the future economic situation also worsened, turning pessimistic for the first time since May 2021.