Industry Confidence drops in June, according to the Brazilian Institute of Economics

The Industry Confidence Index (ICI), which is calculated by FGV's Brazilian Institute of Economics (IBRE), fell by 1.1% between May and June - from 105.0 to 103.8 points, the lowest rate since July 2012. According to the institute, the decrease is due to worse assessments regarding the present moment and expectations for the following months. After recovering in May, the Present Situation Index (ISA) dropped 0.9%, decreasing to 104.8 points; the Expectations Index (IE) fell by 1.3%, recording 102.8 points, lower than the recent historic average. The general result indicates that after the acceleration observed at the beginning of the year, the industry presents a moderate pace at the turn from the first to the second semester. Click here to learn more.