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Business confidence reaches highest level since 2014

FGV

Survey of the Getulio Vargas Foundation (FGV) reveals that entrepreneurs are confident with the direction of the economy

With good economic results, businessmen and Brazilians regained confidence in the Brazilian economy. An example of this is the advance of 2.6 of the Business Confidence Index (ICE) in the month of October. Measured by the Getulio Vargas Foundation (FGV), the figure reached 90.3 points with the increase, registering the highest level for the indicator since July 2014.

For the entity, the data shows consistency of the recovery of confidence and the reversion of pessimism with the direction of the economy. For the first time in three years, the indicator that measures entrepreneurs' intention to hire has advanced by 1.8 percentage points in the month.

"Pessimism begins to give way to a moderate optimism, exemplified by the behavior of the employment indicator, which registers, for the first time since November 2014, more companies predicting an increase than a reduction in the number of employed persons in the following months," said the superintendent of Public Statistics of FGV, Aloisio Campelo Jr.

According to the entity, the increase in the indicator is a result of both the perception of the businessmen about the current moment of business and the prospects for the future. The Current Situation Index advanced for the third consecutive month, while the data measuring business expectation reached 86.1 points, the highest level since 2014.   

In addition, the survey shows the growth of optimism in all business sectors. In October, confidence advanced 0.9 points in industry and services, 0.7 points in the commerce sector and 0.1 points in the construction segment.

Source: Government of Brazil, with information from FGV