Brazil: Business confidence continues to improve in July
July 29, 2016
Business sentiment improved in July, according to the Getulio Vargas Foundation (FGV, Fundaçao Getúlio Vargas) business confidence indicator. The index increased a seasonally adjusted 4.4% over the previous month, rising from June’s 83.4 points to 87.1 points. July’s result marked the highest reading since November 2014. Despite the rise, the index remains below the 100-point threshold that signals that businesses are more pessimistic than optimistic.
According to FGV, firms were notably less pessimistic in July regarding the current and future economic situation. The index tracking sentiment about the current economic situation rose to 85.2 points, above June’s 81.2. Businesses’ confidence in their future economic situation experienced a more moderate increase rising from 85.7 points to 89.0.