The Construction Confidence Index (ICST), from the Getulio Vargas Foundation (FGV), dropped 0.8 point from October to November and reached 95.3 points, on a scale from zero to 200 points. This was the second consecutive fall in the indicator.
The fall in the confidence of the construction entrepreneur in the month was mainly driven by the worsening of the assessments about the future. The Expectations Index dropped 1.6 points to 98.7 points, the lowest level since June this year, due to a 2.3 point drop in the business trend for the next six months and a 1 point drop in forecast demand.
The Current Situation Index, which measures confidence in the present, remained stable at 92 points. The business situation improved by 1 point, but the contract portfolio dropped by 1 point.
“The activity lost momentum in November, although the perception of growth still predominates. On the other hand, high interest rates, more widespread inflation and rising costs undermine expectations of the continuation of the trend towards business improvement,” said FGV researcher Ana Maria Castelo.
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