The Business Entrepreneurs Confidence Index (Icec) grew 0.7% in October compared to September. The rise came after two consecutive drops in the indicator, measured by the National Confederation of Commerce in Goods, Services and Tourism (CNC).
With the result, Icec reached 129.7 points on a scale of zero to 200 points. The rise was driven by confidence in the present and expectations for the future, both up 0.9%.
The components that most contributed to the rise in Icec were the current conditions of the economy (3.8%) and expectations regarding the economy (2%).
Investment intentions fell by 0.3%, due to a 1% decline in hiring employees and investments in companies.
In comparison with October 2021, Icec rose 8.8%, with increases of 13.4% in the perception of current conditions, 5.5% in expectations and 9.2% in investment intentions.
