RIO DE JANEIRO, Nov. 23 (Xinhua) -- The climate for doing business in Latin America has improved in the fourth quarter compared to the third, influenced by improved perceptions regarding the present situation, but it remained less than positive, said a report released Wednesday.
The Brazilian think tank Getulio Vargas Foundation said in its quarterly report that the Economic Climate Index (ECI) rose by 11.8 points to 66.5 points, a level still much below the 100-point mark indicating a favorable climate.
Constructed as the geometric mean of the Present Situation Index (PSI) and the Expectations Index (EI), the ECI rose in this quarter mainly due to an improved PSI, which rose by 22.7 points to 67 points, according to the report. The EI recorded 66.1 points with a slight increase of 0.6 points, indicating stability.
Latin America's ECI has mostly remained at an unfavorable level since the third quarter of 2013, the report said.
In the fourth quarter, Brazil's business climate has improved the most, with an ECI increase of 30 points, while Mexico, Paraguay, Peru and Bolivia have also seen an improvement, but only Paraguay (114.7) and Uruguay (108.2) were in the favorable zone.
"There was an improvement in the present situation driven by the largest economies in the region, but expectations gained little or decreased," said the report.