Rio de Janeiro – Brazilian Business Confidence (ICE, acronym in Portuguese) measured by Fundação Getulio Vargas (FGV), dropped by 2.7 points from February to March this year. With this drop, the indicator reached 94 points in a scale from zero to 200, the lowest level since October 2018. The index is 0.5 point below March last year. ICE is calculated based on surveys with businessmen from the industry, service, commerce and construction sector.
The Present Situation Index, which measures business confidence in the moment, dropped by 1.5 point in March, down to 89.9 points, going back to the level it was in November 2018. The Expectation Index, which measures the confidence in the future, dropped by 2.9 points, ending the quarter at 98.1, the lowest level since last October.
Translated by Guilherme Miranda
