The Business Confidence Index (ICE) rose 0.7 point in March compared to February, to 91.8 points, after a sequence of four consecutive months of declines, informed this Friday, April 1, the Fundação Getulio Vargas (FGV) ). In quarterly moving averages, the indicator dropped 0.8 point in the month, sixth consecutive retraction.
“A significant portion of the rise in business confidence in March is explained by the improvement in the numbers of the covid-19 pandemic in the country and its effects on sales in the Services and Commerce sectors. In both sectors there was an improvement in the perception of the current business situation in the month.
The new drop in the Business Expectations Index, however, 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 military conflict between Russia and Ukraine on the world economy and the expected effect of interest rate hikes. on domestic demand”, evaluated Aloisio Campelo Júnior, superintendent of Public Statistics at the Brazilian Institute of Economics at FGV (Ibre/FGV), in an official note.
The Business Confidence Index gathers survey data from Industry, Services, Trade and Construction. The calculation takes into account the weights proportional to the participation in the economy of the investigated sectors, based on information extracted from the annual structural surveys of the Brazilian Institute of Geography and Statistics (IBGE). According to FGV, the objective is for the ICE to allow a more consistent assessment of the pace of economic activity.
The Present Business Situation Index (ISA-E) grew 4.0 points in March compared to February, to 92.1 points. The Expectations Index (EI-E) dropped 0.9 point to 92.4 points.
Among the large sectors that make up the ICE, only services showed an increase in confidence in March, up 3.0 points compared to February. Construction confidence dropped 0.8 point in March from February, while trade confidence shrank by 0.2 point. The industry, on the other hand, fell by 1.7 points.
In March, confidence increased in 29 of the 49 segments that make up the ICE.
The collection of the Business Confidence Index gathered information from 3,811 companies in the four sectors between March 1st and 28th.
Source: CNN Brasil

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