Rio de Janeiro – The Industrial Confidence Index (ICI), measured by Getulio Vargas Foundation (FGV), has grown 0.3% in the preliminary Industrial Analysis for March this year, as against the February result. According to FGV, the forecast for March registered 102.8 points. In February, the ICI had closed at 102.5 points.
The result was fuelled by the 0.7% growth in the Expectation Index (IE), which shows businessmen’s perspectives for coming months and reached 102 points in this preliminary survey. The Current Situation Index (ISA), in turn, remained stable at 103.5 points.
If the preliminary results are confirmed late this month, this will be the fourth consecutive rise in the index. However, the cumulative growth over the last two months will be just 0.5%, as against 0.5% in January this year and 1.1% in December last year. According to FGV, this shows the sector’s weaker recovery.
*Translated by Mark Ament
