São Paulo – The Industrial Confidence Index (ICI) dropped 0.2% in the August to October three month period, dropping from 98 points to 97.8 points. This is the lowest level since 2009, when the index measured 95.7 points, but shows stability, according to the Brazilian Economics Institute (Ibre), under Getúlio Vargas Foundation (FGV). The organisation is responsible for the ICI measured in the Transformation Industry Analysis.
Since May, variations have been negative and the worst moment was in July, when the rate dropped 4%. In that period, the business evaluation level dropped from 103.8 points to 99.6 points. In the current quarter, in turn, the business percentage is that, in coming months, the environment will be more favourable for business.
Among the signs of improvement is the intention of expanding the number of employees over the next three months. This intention was pointed out by 14.8% of companies, as against 13.9% in the quarter that ended in September. The number of businessmen pointing towards reduction in the number of personnel also dropped, according to the research.
*Translated by Mark Ament
