Industrial Confidence will downturn, according to IBRE

The preview of the Industrial Confidence Index (ICI) by the Brazilian Institute of Economics (FGV/IBRE) for October retreated 0.9% compared to the final result of September, considering the data free of seasonal influence. If confirmed, this would be the fifth consecutive decrease, leading the ICI to 97.1 points, the lowest level since July 2009 (95.7 points).The decrease of confidence continues influenced both by the perceptions about the present and the expectations for the following months. The Current Situation Index (ISA) retreated 1.2% compared to September, when it recorded 97.7 points. The Expectations Index (IE), on the other hand, recorded a decrease of 0.6 %, to 96.5 points.The preliminary data indicates a relative stability in the Level of Installed Capacity Utilization (NUCI), which would change from 84.2% in September to 84.1% in October.In the preview on the Industry Survey, 807 companies were surveyed between the 2nd and the 17th of this month.The final result of the research will be published next Tuesday, October 29th.Please click here to read the full preview on IBRE's website (in Portuguese).