Brazilian Industry Confidence Drops in May

The share of companies forecasting an increase in the total number of employed personnel fell from 17.6 percent to 13.9 percent between April and May.

By Arkady Petrov

RIO DE JANEIRO, BRAZIL - The Industry Confidence Index (ICI) of the Getulio Vargas Foundation (FGV) fell 0.7 percent in May to 97.2 percent, according to a survey released on Tuesday, May 28th.

With the drop, the indicator canceled out the rise recorded in the previous month and returned to the March level, the year's lowest.

"Industry expectations continued to worsen in May and now portray a slightly pessimistic business outlook for the coming months. As for the sector's performance in the month, there are dubious signals," said Aloisio Campelo Jr., Superintendent of Public . . .

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