RIO DE JANEIRO, BRAZIL - The Industry Confidence Index (ICI) calculated by the Brazilian Institute of Economics of the Getulio Vargas Foundation (FGV Ibre) fell for the fifth consecutive month, 2.0 points in December, to 100.1 points, the lowest level since August 2020 (98.7 points). In quarterly moving averages, it maintained the negative trend by falling 2.1 points.
"The December result is pulled by a less favorable evaluation about the current situation, as well as by more cautious expectations for 2022. This result is explained by problems that extended throughout the year, such as pressure on costs . . .