09/23/2024 – 16:54
The September Industrial Business Confidence Index (ICEI) shows a recovery in confidence in the sector, across all regions of Brazil, all sizes of industry and across most industrial sectors. According to the sectoral ICEI, released this Monday, the 23rd, by the National Confederation of Industry (CNI), in September, businesspeople from 26 of the 29 industrial sectors demonstrated confidence.
CNI’s Economic Analysis Manager, Marcelo Azevedo, highlights that, since October 2022, there has not been optimism in so many sectors at the same time. He credits the positive result to the improvement in businesspeople’s perception of the economy. “Confidence is quite widespread across industrial sectors. Businesspeople’s assessment of current conditions, in general, had been holding back confidence, especially in the Brazilian economy, but this has been improving in recent months,” he explains.
Confidence increased in all regions of the country this month. The biggest highlight was the South (+ 2.3 points), followed by the Northeast (+ 2.2 points) and North (+ 1.6 points). Confidence in the Southeast and Central-West increased by 1.3 points and 0.7 points, respectively. According to the survey, with the recovery of the index, the industry in the South region leaves a neutral level of confidence and is now at a positive level for the first time since April.
Regarding the size of industrial companies, there was an increase in confidence in all of them, especially in medium and large companies (an increase of 1.7 points in the ICEI). In small companies, the increase in confidence was more moderate (+0.9 points). “All sizes of industrial companies demonstrate confidence, and, with the increase in September, this confidence is stronger and more widespread,” the survey highlights.
The survey shows that confidence rose in 21 of 29 industrial sectors in September, fell in seven and remained unchanged in one. This increase was enough to move six industrial sectors from lack of confidence to confidence: metallurgy, leather and leather goods, machinery and equipment, metal products, biofuels and computer, electronic and optical equipment.
Two other sectors showed the opposite movement, going from a positive to a negative level: specialized services for construction and wood.
The survey was carried out between September 2nd and 11th, with 1,894 companies, 757 of which were small, 689 medium-sized and 448 large.
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