Economic confidence no longer on the wane

For the first time in five months the confidence expressed by Brazilian industry investors in the country’s economy stopped declining, according to figures released Monday (Aug 18) by the National Industry Confederation (“CNI”). In spite of the improvement, investors remain far from secure, the survey indicates.

The study shows that confidence levels at their lowest in the 27 sectors of the manufacturing industry, of which only those of pharmaceuticals, foods, and drinks presented a positive confidence index.

As for the size of companies, the lack of confidence is widespread. The highest confidence rate was reported by large-scale factories, and were nonetheless not so significant. CNI’s report covered the period from August 1 to 12, surveying 2,763 companies throughout the country, of which 1,056 are small-scale companies, 1,049 medium, and 658 large.

The confederation did not reveal the reasons behind the lack of confidence, as it did not go beyond asking investors whether they feel optimistic about the country’s economy.

Translated by Fabrício Ferreira