RIO DE JANEIRO, Jan. 28 (Xinhua) -- Confidence in the Brazilian construction sector rose in January to a five-year record, Brazilian think tank Getulio Vargas Foundation (FGV) announced on Tuesday.
According to the FGV, the confidence indicator of the construction sector rose from 89.9 points in December to 91.9 points in January, the highest since May 2014.
Ana Maria Castelo, a project coordinator at the FGV, said that the figures indicate what should be the dominant dynamics for 2020. And the increasing confidence in the construction sector is a result of an improvement in real estate market last year.
The FGV said that both indicators of current situation and future perspectives in the construction sector registered improvements in January: the Present Situation Index saw an eighth consecutive increase, reaching 84.3 points, and the Expectations Index rose to 104.2 points, both the highest figures since September 2012.