Brazil: Business confidence improves in December
Business sentiment in Brazil’s industrial sector improved in December. According to theThe Getulio Vargas Foundation’s (FGV, Fundaçao Getúlio Vargas) industrial business confidence index increased to 99.5 points in December from 96.3 points in November. The result marked an over one-and-a-half year high, but fell just shy of the 100-point threshold and continued to signal persistent pessimism among Brazilian companies.
Business confidence improved across the board, as firms were notably less pessimistic about the current economic situation while their outlook on future economic conditions was also less downbeat.