The Business Confidence Index (ICE), measured by the Getulio Vargas Foundation (FGV), increased 0.7 point from February to March this year and reached 91.8 points, on a scale from 0 to 200 points. This was the first increase in the indicator since November last year.
The ICE consolidates the confidence indices of Brazilian businessmen in the four economic sectors analyzed by FGV: industry, construction, commerce and services.
The rise was driven by the Present Business Situation Index, which measures confidence in the present, and which rose 4 points, reaching 92.1 points.
On the other hand, the Expectations Index, which measures the perception of entrepreneurs about the future, dropped 0.9 points and reached 92.4 points.
Of the four sectors, only services advanced in March, rising 3 points to 92.2 points. Industry had the biggest drop (-1.7 points), but remains the sector with the highest confidence (95 points).
The other sectors with a drop in confidence were trade, which dropped 0.2 point and remained in the worst position with 86.8 points, and construction, which dropped 0.8 point and reached 92.9 points.
According to FGV researcher Aloisio Campelo Jr., much of the rise in confidence in the month is explained by the improvement in the numbers of the covid-19 pandemic and its effects on sales of commerce and services.
He points out, however, that the drop in expectations casts doubt on the continuity of the recovery in the coming months in the face of a scenario of uncertainty regarding the impact of the Russian invasion of Ukraine on the world economy and the expected effect of interest rate hikes on demand. internal.
