Confidence among Brazilian industrial entrepreneurs increased in October

The October result for the ICEI index, which measures the level of confidence among Brazilian industrial entrepreneurs, was 47.2 points, compared with 46.2 points in September. Despite this rise, the index remained below the 50.0-point threshold separating optimism from pessimism for the tenth month in a row.

Pessimism fell as the assessment of both current and future conditions improved, although it remained in a negative mood, according to industry association CNI, which produces the index.  The score of entrepreneurs improved by 1.5 points to 41.0 points in relation to the Brazilian economy, while an improvement of 0.5 points to 53.2 points, which is clearly positive, for the performance of their own industrial companies.  The study was conducted from October 1 to 7 and covered representatives of 1,164 industrial companies.