Brazil: Business confidence continues to improve in June
June 28, 2016
Business sentiment improved in June, according to the Getulio Vargas Foundation (FGV, Fundaçao Getulio Vargas) business confidence indicator. The index increased a seasonally adjusted 5.3% over the previous month, rising from May’s 79.2 points to 83.4 points. June’s result marked the highest reading since February 2015. Despite the rise, the index remains far below the 100-point threshold that signals that businesses are more pessimistic than optimistic.
According to FGV, firms were notably less pessimistic in June regarding the current and future economic situation. The index tracking sentiment about the current economic situation rose to 81.2 points, above May’s 80.5. Businesses’ confidence in their future economic situation experienced an even sharper increase rising from the 78.2 points recorded in May to 85.7.