Brazilian industrialists' confidence highest in 4 years

11:04, October 27, 2009      

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The confidence level of the Brazilian industrialists reached 65.9 points in October, the highest figure registered since 2005, the National Industry Confederation (CNI) said on Monday.

According to the CNI, the Industrialists' Confidence Indicator (ICEI) was up 7.7 points from the previous study, which was conducted in July. Since the beginning of the year, the ICEI has risen 18.5 points.

The figures indicated the consolidation of the growth of Brazil's industry, the CNI stated, and also a possible retake of the investment in the sector, which fell sharply with the global financial crisis.

"The results indicate that the businessmen are seeing the end of the crisis and are betting on a sustained recovery in the future," said Renato da Fonseca, executive manager of the CNI's researu Unit.

The ICEI consists of an indicator which measures the current situation of the Brazilian economy compared to the past six months and an indicator measuring the expectations for the next six months.

In October, the current situation indicator jumped from 47.2 to 60.5 points, while the expectations indicator rose from 63.6 to 68.7 points.

The ICEI study was conducted in 1,418 Brazilian companies between Sep. 30 and Oct. 23.

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