Brazil: Business confidence rises to its highest level in 18 months
December 28, 2012
In December, the business confidence index published by the Getulio Vargas Foundation (FGV, Fundacao Getulio Vargas) increased a seasonally adjusted 1.1% over the previous month to 106.4 points, which represented the highest level observed in 18 months. The reading reflected a rise in both the present situation index as well as in the expectations index.
Consequently, the index remains above the 100-point threshold, indicating that optimism prevails among businesses. That said, business confidence still remains below the post-crisis peak of 116.5 points recorded in March 2010.