Brazil: Business confidence strengthens albeit remains in pessimistic territory in July
July 29, 2020
The Getulio Vargas Foundation’s (FGV, Fundaçao Getúlio Vargas) industrial business confidence came in at 89.8 in July, up from June's 77.6, recording a notable improvement over the previous month However, the index still remained entrenched below the 100-point threshold, separating pessimism from optimism among businesses.
July’s upturn came on the back of an improvement in firms’ perceptions of the current economic situation, while their assessment of the future economic situation also grew less pessimistic.
Author: Hanna Andersson, Economist