The Business Confidence Index (ICE) rose 0.8 point in September compared to August, to 101.5 points, the highest level since August 2021, the Getulio Vargas Foundation (FGV) reported this Monday, 3rd. In quarterly moving averages, the indicator maintains its upward trend for the sixth consecutive month, with growth of 2.7 points in the third quarter of 2022, compared to a high of 7.0 points in the previous quarter.
“ICE approaches the level of August 2021, the highest achieved since the beginning of the covid-19 pandemic. This time with more positive assessments of the current situation and less favorable expectations for the following months, especially in the six-month horizon. The least optimistic sectors are Trade and Industry. In the latter sector, there is a growing pessimism with the prospects for external demand – mainly in the Intermediate segment – a reflection of the strong deceleration in progress in the world economy”, evaluated Aloisio Campelo Júnior, superintendent of Public Statistics at the Brazilian Institute of Economics of FGV (Ibre/FGV), in an official note.
The Business Confidence Index gathers survey data from Industry, Services, Commerce 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 0.7 point in September compared to August, to 102.0 points, the highest level since June 2013. The Expectations Index (IE-E) advanced 1.0 point, to 100.1 points, the highest level since October 2021.
From August to September, confidence in services rose 1.0 point, to 101.7 points, and that of commerce increased 2.4 points, to 101.8 points. Industry had a reduction of 0.8 points, to 99.5 points, while construction increased 3.5 points, to 101.7 points.
In September, confidence increased in 61% of the 49 segments that make up the ICE.
The collection of the Business Confidence Index gathered information from 3,975 companies in the four sectors between September 1st and 27th.
Source: CNN Brasil
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