Brazil: Business confidence rises in August
Business sentiment in Brazil’s industrial sector improved in August, after falling to the lowest level since October 2018 in the previous month. The Getulio Vargas Foundation’s (FGV, Fundaçao Getúlio Vargas) industrial business confidence index rose to 95.6 points from July’s 94.8 points. The index, however, still lies below the 100-point threshold and signals pessimism among firms.
According to the FGV, the deterioration was driven by firms less pessimistic assessment of the current and future economic situations.