Brasília – Foundation Getulio Vargas’ (FGV) Brazilian Institute of Economics detected a slight recovery from March to April in the Industrial Confidence Index (ICI), which closed this year with an increase of 0.3%, reaching 96.5 points, already seasonally adjusted. According to the FGV, the ”slight increase breaks a series of drops initiated last January, but is still insufficient to prevent the index from closing the 14th month in a row below the historical average”.
The economists in FGV ascertained that the result in April is due to the combination of an improvement of the evaluation of the current moment and a decrease of the expectations for the next months. The Current Scenario Index increased by 1.1%, to 97.7 points, but, conversely, the Expectations Index remained on a downtrend, decreasing by 0.5%, to 95.3 points.
*Translated by Rodrigo Mendonça
