Brazil: Industrial business confidence index falls for sixth month running in January
The Getulio Vargas Foundation’s (Fundação Getúlio Vargas) industrial business confidence index came in at 98.4 in January, down from 100.1 in December. The reading was the lowest since July 2020 and fell below the 100-point threshold—indicating pessimism among businesses—for the first time in 17 months.
January’s moderation reflected a deterioration in firms’ views of the current economic situation, which turned pessimistic for the first time since August 2020, while their perception of the future economic situation also worsened.