Industrial Confidence In Brazil Rises For Second Consecutive Month

(MENAFN- The Rio Times) In September 2024, Brazilian industrial entrepreneurs' confidence increased for the second month in a row. The Industrial Entrepreneur Confidence Index (Icei) rose by 1.6 points, reaching 53.3 points.

This upward trend moves the index further away from the 50-point threshold, indicating growing optimism among industrialists.

Marcelo Azevedo, Economic Analysis Manager at the National Confederation of Industry (CNI ), notes the widespread nature of this confidence boost.

All components of the Icei index showed improvement from August to September. Both current conditions and future expectations assessments increased, driving the overall confidence surge.

The index measuring industrialists' expectations for their businesses and the country's economy climbed 1.5 points to 55.4 in September. This score, well above the 50-point mark, reflects a more optimistic outlook for the next six months.



Entrepreneurs' expectations for the economy rose by 2.9 points, reaching 49.1 points in September. The assessment of current economic conditions improved by 3.8 points, from 40.6 to 44.4 points.

While these economic perception indices remain below 50 points, they have shown improvement for two consecutive months. Azevedo attributes this trend to the positive second-quarter GDP results and the sector's performance.

The surprising GDP growth in the second quarter, with significant industrial sector participation, likely influenced both current and future assessments.

Positive data on production, employment, and investment intentions in the industry have contributed to this confidence boost.

This upward trend in industrial confidence is crucial for Brazil's economic recovery. It may lead to increased investments and job creation in the sector, potentially stimulating overall economic growth.

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