The Industry Confidence Index (ICI), calculated by the Getulio Vargas Foundation (FGV), dropped 3.8 points from September to October this year. In the second consecutive drop, the indicator reached 95.7 points, the worst result since March 2022.
Of the 19 industrial segments surveyed by FGV, 17 registered a drop in business confidence.
The ICI result in October was mainly driven by the decline in the Current Situation Index, which verifies confidence in the present and which fell by 4.5 points, reaching 96.4 points, the lowest result since July 2020, when the country was still adopted isolation measures.
The Expectations Index, which measures business confidence in the coming months, dropped three points to 95.
