Thu Mar 20, 2014 10:12am

Brazilian small and mid-size businesses are less optimistic about the second quarter than they were about the first, as higher interest rates and persistent inflation sap confidence in economic growth, according to data released by Banco Santander and local business school Insper on Thursday.

The Brazilian small- and mid-size consumer confidence index fell to 65.9 points in the second quarter from 69.2 points in the first period, with confidence down most sharply in the services sector. It was the fourth straight decline in the index, Insper and Santander said.