Brazil industrial confidence hits highest level since April 2011

RIO DE JANEIRO, Oct. 28 (Xinhua) -- Brazil's industrial confidence in October reached its highest level since April 2011, confirming the country's economic recovery in the wake of the novel coronavirus (COVID-19) pandemic, a prominent economic think tank said on Wednesday.

According to the Getulio Vargas Foundation (FGV), the Industry Confidence Index rose 4.5 points this month to reach 111.2 units, the highest level in more than nine years.

"The October survey shows the industrial sector is more satisfied with the current situation and optimistic that this result will be maintained in the next three months," the FGV said in a report.

The FGV added, however, that a "delay in the recovery of the business trend indicator shows a certain concern among business owners regarding the sustainability of this level of optimism over a period longer than the end of emergency (financial) aid programs," which the government launched to help low-income households withstand COVID-19 lockdown measures.

Meanwhile, the Current Situation Index rose 6.4 points to 113.7, the highest level since November 2010, and the Expectations Index rose 2.7 points to reach 108.6, the highest level since May 2011.

Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 18
Cxense type: free
User access status: 3

Did you find this article insightful?


Next In World

UK to launch new watchdog next year to police tech giants
Weekend scorcher: Australia braces for first major heat wave of fire season
Trump is losing Twitter followers every day after losing the election
UN experts sound alarm over AI-enhanced racial profiling
Ontario to limit food delivery app fees amid Covid lockdown
Beware of those gifts you see on social media ads – they may never arrive
Freed British-Australian academic was detained in Iran due to Israeli partner - media
Ecuador, Colombia coordinate reopening border to reactivate economy amid pandemic
Sweden to reach COVID-19 peak in two weeks: forecast
Roundup: Record-high 90,000 Americans hospitalized with COVID-19 amid Thanksgiving

Stories You'll Enjoy