Business confidence up in April against the previous month, reports FGV

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The Business Confidence Index (ICOM) rose 3.5 points for March to April, rising from 85.6 points to 89.1 points during the period, reported the Getulio Vargas Foundation FGV).

“The April result confirms a new pace for the ICOM, remaining moderately low, but above the recessionary levels of recent years,” says Aloisio Campelo Jr, Director of Public Statistics at the FGV-IBRE.

Confidence improved in eight of the 13 segments surveyed during April, with the Current Situation Index reaching 82.9 points, while the expectations indicator hit 95.8 points.

Campelo Jr concludes: “Despite the good news, uncertainty about the prospect of a sustained recovery can be illustrated by a decline in consumer confidence during the month”.

The business survey gathered information from 1,061 companies between April 3 and 25.

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