In April, industrialists showed less confidence in the economy, marking a shift from the stable sentiment observed in March.
The National Confederation of Industry’s (CNI) recent survey reveals the Industrial Entrepreneur Confidence Index (Icei) fell to 51.5 points this month, down by 1.3 points from March’s 52.8.
Despite this drop, the index still indicates overall optimism, staying above the pivotal 50-point line, albeit beneath the long-term average of 54 points.
This downturn is mainly attributed to industrialists’ negative perceptions of Brazil‘s current economic climate.
Specifically, the Current Conditions Index, which gauges immediate economic and business conditions, declined to 45.7 points from March’s 47.5, continuing its sub-50 trend since January 2023.
Furthermore, the Expectations Index, predicting the six-month economic forecast, saw a reduction from 55.4 to 54.4 points.
Enterprise confidence slightly dropped (58.2 to 57.6), broader economy sentiment fell to 48 points, turning pessimistic.
Current trend suggests cautious reassessment of economic prospects, contrasting with optimism seen at previous year’s end.
Although industrialists maintain confidence in their businesses, growing apprehension about the immediate and upcoming economic conditions is evident.
A survey of 1,238 business owners conducted April 1-5 highlights nuanced perspectives in the industrial sector.