Rio de Janeiro – The preliminary results for August of the Industry Confidence Index (ICI) show a 1.2% decline as against late July results. In case the preliminary results match the final index by late August, then the ICI will have had the eighth back-to-back decline and reached its lowest level since 2009.
According to the Getúlio Vargas Foundation, the indicator’s decline is caused by a poorer assessment from industry executives regarding the current scenario. The Current Scenario sub-index was down 4% in preliminary August results, as against consolidated results from July.
Industrialist confidence regarding coming months, however, has improved. The Expectations sub-index was up 1.8% as per preliminary August figures, compared with final results from July. It was the first increase following a seven-month downward spell.
Preliminary figures from the Industry Survey, based on which the ICI is calculated, also point to an increase in Use of Installed Capacity from July to August, from 83.2% to 83.3%. For the preliminary, 802 companies were polled from the 4th to the 18th this month. The final results will be released next Wednesday (27th).
*Translated by Gabriel Pomerancblum
