Brazil's industry confidence lowest in 12 months

16:27, December 01, 2010      

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Brazil's Industry Confidence Index (ICI) fell to 112.7 points in November, the lowest level registered in a year, the Getulio Vargas Foundation (FGV) reported on Tuesday.

The ICI fell 1.1 percent from October, but remains 2.9 percent higher than in November 2009. Since January, the ICI has accumulated a fall of 0.7 percent.

According to the FGV, the fall registered in November was mainly due to the decrease in the industrialists' optimism about the Brazilian economy in the upcoming months. One of the indicators which form the ICI, the Expectations Index (IE), fell 1.9 percent this month, to 110.7 points.

The Present Situation Index (ISA), which measures the confidence in the current economic scenario, had a fall of 0.3 percent, to 114.7 points.

The share of industries which considered the current economic situation good jumped from 32.7 to 35.9 percent in November, while those who considered the economic situation bad fell from 13 to 7.2 percent.

Among the 1,192 companies surveyed, 51.7 percent expected an improvement in business conditions in the next six months, from 59.7 percent in October. A total of 3.6 percent of companies expect the situation to worsen in the next six months, from four percent in October.

The Level Capacity Utilization of the Brazilian industry fell from 85.2 to 84.5 percent this month, hitting the lowest level since March. Since the beginning of the year, however, the capacity levels increased 0.7 percentage point.



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