Business confidence in Brazilian economy rises

Brazilian businessmen from the industry sector regained optimism about the possibility of growth in the next few months, overcoming the distrust expressed last August. This is shown by the Industry Confidence Index (ICI) for September, which was up 2.1 points, increasing from 86.1 to 88.2 points. The rate is the highest since July 2014 (88.8).

The ICI examines entrepreneurs' perception of business currently and in medium term (six months), through a survey by the Getúlio Vargas Foundation. From September 5 to 23, 1,122 company leaders were heard. Of a total of 19 sectors, 12 improved rates related to the present moment and to medium term.

The superintendent of the foundation's public statistics, Aloisio Campelo, said in a note that the "survey suggests a slow recovery that is subject to production shocks, due to the efforts for replenish stocks and to the recent drop in external sales." He added that the sector remains disappointed with the domestic market's slow recovery, but it is optimistic about the possibility of growth in the next few months.

Translated by Amarílis Anchieta