Brazil Business Confidence September 2020

Brazil

Brazil: Business confidence jumps to over nine-year high and returns to optimistic territory in September

September 28, 2020

The Getulio Vargas Foundation’s (FGV, Fundaçao Getúlio Vargas) industrial business confidence index came in at 106.7 in September, up notably from August's 98.7 and marking the best reading since June 2011. As such, the index moved above the 100-point threshold, separating optimism from pessimism among businesses.

September’s notable upturn chiefly came on the back of an improvement in firms’ views of the current economic situation. In addition, their perceptions of the future economic situation also strengthened notably compared to the previous month.

Panelists surveyed for this month’s LatinFocus report see fixed investment falling 8.8% in 2020, which is up 2.4 percentage points from last month’s forecast. For 2021, panelists project fixed investment to rebound and grow 6.6%, which is down 0.5 percentage points from last month’s estimate.


Author:, Economist

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Brazil Business Confidence September 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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