Brazil: Industrial business confidence index falls for seventh month running in February
The Getulio Vargas Foundation’s (Fundação Getúlio Vargas) industrial business confidence index came in at 96.7 in February, down from 98.4 in January. The reading was the lowest since July 2020 and fell further below the 100-point threshold—indicating pessimism among businesses.
February’s deterioration reflected a deterioration in firms’ views of the current economic situation, which were at their most pessimistic since August 2020, while their perception of the future economic situation also worsened.