Service Confidence Index drops again in November, says FGV
The Services Confidence Index, calculated by the Getulio Vargas Foundation (FGV), dropped 2.3 points from October to November this year and reached 96.8 points, on a scale from zero to 200 points. This is the lowest level since June this year (93.8 points). In the previous month, the indicator had risen 1.8 point.
The fall in November was mainly driven by the Expectations Index, which measures the confidence of Brazilian commerce entrepreneurs in the future, which dropped 2.7 points, reaching 100.9 points.
The Current Situation Index, which measures the entrepreneur's perspective on the present, dropped 1.8 points and reached 92.8 points.
"Despite the advance of the vaccination program, the fragile macroeconomic environment may add more uncertainty to the continuity of the recovery at the turn of 2022", says FGV economist Rodolpho Tobler.
Text translated using artificial intelligence.
