The business confidence indicator ticked up to 59 in July from June's 58, moving further above the 50-point threshold that separates optimism from pessimism, the latest FocusEconomics' LatinFocus Consensus Forecast report highlighted.
"Driving the increase in business sentiment was an
improvement in expectations on the near-future, while expectations on the medium-term remained unchanged," it expressed.
According to FocusEconomics, firms had slightly more
favorable expectations for the next three months
regarding: the general economic situation, the company's economic situation,
hiring of new staff, and the sector's economic situation.
"However, they had a worse assessment of their current production levels," it noted.