Brazil Business Confidence November 2020

Brazil

Brazil: Business confidence hits near-decade high in November

November 27, 2020

The Getulio Vargas Foundation’s (FGV, Fundação Getúlio Vargas) industrial business confidence index came in at 113.1 in November, up from October's 111.2, marking the best reading since December 2010. As such, the index moved further above the 100-point threshold, indicating optimism among businesses.

November’s upturn was driven by an improvement in firms’ views of the current economic situation. In contrast, sentiment regarding the future economic situation weakened from the previous month.

Panelists surveyed for this month’s LatinFocus report see fixed investment expanding 5.5% in 2020, which is down 0.8 percentage points from last month’s forecast, and 4.8% in 2022.


Author:, Economist

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Brazil Business Confidence Chart


Brazil Business Confidence November 20 20

Note: Index of industry business sentiment (seasonally adjusted). Readings above the 100-point threshold indicates businesses expect economic conditions to improve.
Source: Getulio Vargas Foundation.


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