Confidence of entrepreneurs drops 3.3 points in November, says FGV
The Business Confidence Index (ICE), measured by the Getulio Vargas Foundation (FGV), dropped 3.3 points from October to November this year and reached 97 points on a scale from zero to 200. From September to October, the indicator had gone up by 0.4 point.
The fall in November was driven by worsening business confidence in the present and the future. The Current Situation Index dropped 2.5 points and reached 97. The Expectations Index dropped 4.5 points and reached 95.8.
ICE consolidates business confidence indices measured by FGV in four areas: industry, construction, services and commerce.
The four segments had a drop in confidence from October to September, with emphasis on trade, which dropped 6.2 points and reached 88, the lowest level among the analyzed sectors.
Industry had the second biggest drop (-3.1 points), but continued with the highest level among the four segments (102.1 points) and was the only one to stay above 100. Service confidence dropped 2.3 points , to 96.8, while construction dropped 0.8 point, to 95.3 points.
Text translated using artificial intelligence.
