Brazilian industrial entrepreneurs show increased economic confidence

Wednesday, 10 August 2022 23:58:15 (GMT+3)   |   Sao Paulo

The index that measures the confidence that Brazilian industrial entrepreneurs ascribe to the domestic economy, the ICEI index, increased two points from July to 59.8 points, according to a release by the sector confederation CNI. The 50 mark is the line separating pessimism from optimism.

According to CNI, the level of the last two months is the highest since August 2021, reflecting chiefly positive perspectives for the coming months.

The ICEI index is based on figures from current conditions and from expectations, both considered to reach the ICEI index. The current conditions index increased 3.1 points to 54.2 points in August, showing a more positive evaluation in relation to the last six months.

Under the same comparative basis, the index of expectations increased by 1.5 point to 62.6 points, showing once more that the industrial sector remains more optimistic with the future than with the current conditions of the economy.

The research was conducted August 1-8, among 1,542 representatives of large, medium and small industries.

According to analysts, the results were influenced by the announcement of a 0.68 percent deflation rate in July, heavily affected by the lower prices of fuels and energy, reducing fears of an escalation of the inflation rate for the coming months.

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