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News
(Source:
O
Globo newspaper - November 19th 2009)
Economic climate rises in Latin America. Brazil
stands out in the region and in the world, says
Getúlio Vargas Foundation (FGV)
The economic climate in Latin America
improved in October and Brazil had the best
performance of the region, being the highlight of
the world, according to a poll conducted by the
Getúlio Vargas Foundation (FGV) in partnership with
the German Ifo institute, released on Thursday.
The Economic Climate Index (ECI) in the region rose
from 4 points to 5.2 points between July and
October.
The number surpassed the average of the last ten
years (5.1 points) for the first time since January
2008.
"The index, which had been declining since July
2007, reached in January 2009 the lowest level of
the series initiated in 1990: 2.9 points,"
FGV
said in a statement. The climate sustainability
index (ISA) component of the current situation rose
from 2.6
points in July to 3.3 points in October.
The Expectations Index (EI) increased from 5.4
points to 7.0 points.
"The current situation is still considered
unfavorable, but the expectations are improving and
continue to point to a positive scenario. The region
remained thus in the recovery phase of the cycle."
Besides being the largest in Latin America, the ECI
in Brazil was the highest among the BRIC countries,
placing 7.4 points in October, followed by India
with 7 points, and China, with 6.5 points.
The component of the current situation in Brazil
increased by 4.3 points in July to 6.4 points in
October, while expectations increased from 6.6 to
8.4 points.
In
July's
survey, five Latin American countries were at the
stage of economic recovery (Brazil, Chile, Colombia,
Mexico and Peru) and six countries in recession
(Argentina, Bolivia, Ecuador, Paraguay, Uruguay and
Venezuela).
In the current survey, referring to
the month of October, Brazil, Peru and Uruguay moved
to the boom stage.
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