The Services Confidence Index, measured by the Getulio Vargas Foundation (FGV), rose 3 points in March, compared to February. With the result, which interrupted a sequence of four consecutive months of decline, the indicator reached 92.2 points, on a scale from 0 to 200 points.
“The advance in confidence seems to be related to the improvement of the pandemic, especially in the segments that depend more on the movement of people. Caution is still needed over the coming months, the negative macroeconomic scenario and low consumer confidence do not allow us to confirm that this increase is the return to the recovery path observed last year. It will be necessary to wait for new favorable results”, said Rodolpho Tobler, economist at FGV, in a note.
The Current Situation Index, which measures the confidence of the service business in the present, grew by 4.3 points and reached 90.9 points. The Expectations Index, which assesses the perception of entrepreneurs in relation to the future, rose 1.7 points and reached 93.7 points.
