São Paulo – The Industry Confidence Index (ICI), surveyed by the Brazilian Institute of Economics (Ibre) of Fundação Getulio Vargas (FGV), increased 2.3% in October, when going from 66 to 67.5 points, becoming the second lowest of the historical series. The result was impacted by the increase of 8.9% of the Expectations Index (IE), which went to 69.7 points, after getting to the all-time low 64 points in the previous month. In turn, the Present Situation Index (ISA) declined 4% to 65.2 points, marking the lowest point in the series.
“The hike of the Expectations Index in October is a favorable result, but that should be interpreted as a sign of easing, in Q4, of the negative numbers that have been marking the evolution of output and employment in the sector since the beginning of the year”, said the adjunct superintendent for economic cycles at Ibre, Aloisio Campelo Jr.
*Translated by Sérgio Kakitani
