Brasília – The Industrial Businessman Confidence Index (Icei, in the Portuguese acronym) dropped by 3.3 percentage points in April compared to March and was at 49.2 points, the lowest value in five years. The expectation for the next six months is optimistic and the Icei should be at 53.3 points – surpassing the 50 point threshold. The index is calculated by the National Confederation of Industry (CNI, in the Portuguese acronym).
The reason behind this, according to the CNI Economic Policy Unit executive manager, Flávio Castelo Branco, is that “businessmen are pessimistic in regards to the economy as a whole and to the environment in which their companies do business. However, in regards to their own businesses, pessimism is milder for the next six months, though it may be tainted by situation deterioration”.
*Translated by Rodrigo Mendonça
