Brazil: Business confidence hits five-month high in November
November 27, 2014
Business sentiment increased in November reaching a five month high, according to the Getulio Vargas Foundation (FGV, Fundaçao Getulio Vargas) business confidence indicator. The index rose a seasonally-adjusted 3.6% over the previous month and now stands at 85.6 points, which is up from the 82.6 points tallied in October. However, the index still rests below the 100-point threshold, which signals that businesses are more pessimistic than optimistic.
Firms were significantly more optimistic regarding their expectations of the current situation of the economy. However, business sentiment toward the future situation of the economy declined.