Venezuela with the poorest business climate in the region

The Economic Climate Index (ECI) for Latin America climbed from 4.8 points in July to 5.2 points in October, according to a quarterly report published by the Brazilian center for economic studies Getulio Vargas Foundation (FGV).

The indicator hit the same level as in April and way above the 4.4 points reported in October 2011, when it dropped to its lowest level since the world crisis of 2008.

The quarterly index includes assessments made by 140 experts from 18 countries.

The improvement in the business climate in the region came amidst a worsening of the world Economic Climate Index stemming from the global crisis.  Globally, the ECI slipped from 5.2 in April to 4.7 in July and 4.6 in October.

In details, the business climate is better and more favorable in Bolivia, Brazil, Chile, Colombia, and Paraguay. In Peru and Paraguay, the index did not improve, yet it remained favorable. Other countries reported improvements between July-October. However, the business climate continues being unfavorable in Argentina and stable in Mexico, Ecuador, and Venezuela, whose business climate index was 3.4 points, compared to 4.9 points in Mexico and Ecuador.