Construction Confidence in Brazil reaches the highest level in eight years
RIO DE JANEIRO, BRAZIL – The Construction Confidence Index (ICC), measured by the Getulio Vargas Foundation (FGV), rose 1.4 points from November to December and reached 96.7, on a scale of zero to 200 points. This is the indicator’s highest level since January 2014 (97.8 points).
The rise in confidence of Brazilian construction entrepreneurs was mainly driven by the Expectations Index, which measures the perception about the future and rose 2.1 points to reach 100.8, the highest level since August this year.
The Current Situation Index, which measures the business community’s confidence in the present, also grew: 0.8 points. The sub-index reached 92.8, the highest level since August 2014.
The Construction Capacity Utilization Level (Nuci) dropped 0.9 percentage points to 76.4%. The cost of raw materials was, in December this year, the most limiting factor for companies, according to entrepreneurs.
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