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.
Author: Hanna Andersson, Economist