The Economic Climate Index (ICE), measured by the Getulio Vargas Foundation (FGV), dropped 2.8 points in the first quarter of this year compared to the previous quarter.
As a result, the indicator, built based on the assessment of experts in the country’s economy, reached 60.6 points on a scale from 0 to 200 points.
It is the worst result since the second quarter of 2020 (40.8 points). The drop was driven by the 39.1-point drop in the Current Situation Index, which measures the opinion of experts in relation to the present, and which reached 15.4 points.
The Expectations Index, which measures the evaluation in relation to the future, on the other hand, rose 42.7 points and reached 115.4 points.
The ICE is also measured in other Latin American countries, always based on the opinion of experts from these locations.
The Brazilian ICE was below the region’s average (79 points) and had the worst performance among the ten Latin American nations. In the previous quarter, Argentina occupied the last position.
The best index was with Uruguay (135.4 points), followed by Paraguay (113.6 points), Colombia (109.4 points), Ecuador (93.7 points) and Mexico (81.3 points).
They were below the Latin American average, in addition to Brazil, Argentina (67 points), Bolivia (71.4 points), Chile (71.7 points) and Peru (78.4 points).
In comparison with the previous quarter, Latin America lost 1.4 points.
Among the main losses, Colombia (-28.2 points), Ecuador (-23.8 points), Paraguay (-19.7 points) and Bolivia (-15.9 points) stand out.
The only countries that had growth in relation to the previous quarter were Argentina (29.8 points) and Uruguay (15.7 points). Brazil’s 2.8-point loss was the region’s third-best result.
GDP
The GDP growth forecast for Brazil in 2022, according to experts consulted by FGV, dropped from 1.8% in the fourth quarter of 2021 to 0.7% in the first quarter of this year.
It is also the worst result among the ten countries in the region.
The average growth forecast in Latin America is 2.2% for 2022.
The best forecasts are for Colombia (3.9%), Bolivia (3.8%), Paraguay (3.6%) and Uruguay (3%).
The other forecasts are: Peru (2.7%), Ecuador (2.6%), Mexico (2.5%), Argentina (2.5%) and Chile (2.4%).
Source: CNN Brasil
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