Industry confidence rises again after three months of decline

2023-07-28 13:41:19

Publication data Industrial Entrepreneur Confidence Index (ICEI) from the National Confederation of Industry (CNI) In July 2023, the ICEI increased by 0.7 points, from 50.4 points to 51.1 points. The result was mainly due to a less negative assessment of the current conditions of the Brazilian economy and companies. It is the second consecutive month in which the industry demonstrates confidence. The index assesses business confidence with the industry future in the face of changes in industrial indicatorsboth economic and technological, taking into account the influence of the supply of jobs for so-called professions of the future the reduction of operational costs and the development of initiatives entrepreneurship.

After a three-month period of lack of confidence in the industry, from March to May 2023, the ICEI recorded a positive change in July. Since the beginning of the year, the index has fluctuated close to the 50-point dividing line, alternating between confidence and lack of confidence.

CNI’s Economic Analysis manager, Marcelo Azevedo, points out that, “despite the current conditions of the Brazilian economy still being negative, expectations have shown improvements throughout the year”. He mentions that high interest rates have harmed industrial activity, but there are other factors, such as default and family debt, which also affect business confidence.

The optimism scenario extends to the next six months, as shown by the CNI survey. The ICEI components made significant advances from May to July 2023. The Current Conditions Index reached 44.2 points following an increase of 1.1 points. Although still below the 50-point dividing line, this result indicates that business owners see a worsening in current business conditions compared to the last six months. However, the perception of deterioration is less intense and widespread than in May.

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The Expectations Index rose 1.3 points, reaching 53.5 points. Being above 50 points, this number reflects the industry’s optimism for the second half of the year. It is worth mentioning that this optimism is restricted to the company, since the expectation index of the Brazilian economy it stood at 47 points, still below the dividing line.

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