Brazil: Business confidence rises to highest level in 16 months
October 29, 2012
In October, the business confidence index published by the Getulio Vargas Foundation (FGV, Fundacao Getulio Vargas) increased a seasonally adjusted 1.0% over the previous month to 106.0 points, the highest level recorded in 16 months. The reading reflected a rise in both the present situation index as well as in the expectations index. As a result of the monthly rise, the index moved further above the 100-point threshold, indicating improving optimism levels among businesses. Nevertheless, business confidence still remains below the post-crisis peak of 116.5 points recorded in March 2010.