Brazil: Business confidence picks up but remains pessimistic in December
The Getulio Vargas Foundations (Fundação Getúlio Vargas) industrial business confidence index rose to 93.3 in December from November’s 92.1. As a result, the index moved closer to, but remained below, the 100-point threshold, signaling milder pessimism among businesses.
Decembers upturn came on the back of an improvement in firms assessments of both the current and future economic situation. Despite the uptick, both remained pessimistic in December.