Brazil: Business confidence hits highest level in over a year
September 26, 2012
In September, the business confidence index published by the Getulio Vargas Foundation (FGV, Fundacao Getulio Vargas) increased a seasonally adjusted 0.9% over the previous month to 105.0 points, the highest level seen in 14 months. The reading reflected a rise in the expectations index, whereas the present situation index registered a mild decline. As a result of the monthly rise, the index moved further above the 100-point threshold, indicating improving optimism levels among industries. Nevertheless, business confidence still remains below the post-crisis peak of 116.5 points recorded in March 2010.