The industry confidence index in Brazil has reached its highest monthly value since May 2014, Agência Brasil reports.

The Brazilian news agency cites data from a survey by Fundação Getulio Vargas (FGT). The study by the higher education institution showed the index reached 91.2 points last month.

The rise in confidence was observed in 11 of the 19 industrial segments in the analysis.

The FGT Public Statistics superintendent Aloísio Campelo was quoted saying last month’s results showed “a sector still unsatisfied with the current business situation but quite less pessimistic regarding the future, comparing to last year”.