The confidence of industrial businessmen rose for the second consecutive month and increased by 1.6 points in September, reaching 53.3 points, according to the Industrial Business Confidence Index (Icei) of the National Confederation of Industry (CNI).
CNI’s Economic Analysis Manager, Marcelo Azevedo, explains that the two consecutive increases in the index, in August and September, move the indicator away from the 50-point level, which indicates greater optimism among industrialists.
“Businesspeople are showing more confidence and this confidence is more widespread. It is also important to remember that all the components that make up the Icei rose between August and September. Both the assessment of current conditions and expectations grew and this boosted the improvement in confidence,” says Azevedo.
The component that measures the expectations of industrial entrepreneurs regarding the future of their businesses and the country’s economy rose 1.5 points to 55.4 points in September. By moving away from the 50-point dividing line, the Expectations Index reflects greater optimism among industrialists for the next 6 months.
Regarding businesspeople’s expectations for the economy, the survey indicates an increase of 2.9 points in September, totaling 49.1 points. Regarding the current conditions of the country’s economic activity, the survey indicates an increase of 3.8 points, from 40.6 points to 44.4 points.
Although the indexes that monitor industrialists’ perception of the current and future economy are still below the 50-point line, this is the second consecutive month in which businesspeople’s assessment of the country’s economy has improved. Marcelo Azevedo attributes this movement to the Gross Domestic Product (GDP, the sum of goods and services produced in the country) in the second quarter of this year and to the sector’s performance.
“The GDP in the second quarter was a positive surprise, with a significant contribution from the industrial sector, which is good news for businesspeople. This may have influenced both the assessment of current conditions and expectations,” he explains.
“In terms of production, employment and even investment intentions, the industry has been recording positive data, which certainly improves confidence”, concludes Marcelo Azevedo.
