Brazil’s business confidence index falls in November – Xinhua

BRASILIA, Nov. 24 (Xinhua) — Brazil’s Business Confidence Index for industry (ICEI) fell across the 29 industrial sectors in November, according to a report released Thursday by the National Confederation of Industry (CNI).

The index dropped 10 points or more in nine sectors, with the biggest drop of 14.1 points registered in lumber products, while the smallest decrease of 4.9 points was seen in the beverage sector.

The largest drop was among medium-sized companies, where the index slipped from 61.2 to 51.2 points; among small companies, it fell from 58.7 to 51.3 points; and at large companies, it dipped from 60.5 to 51.8 points.

In eight industrial sectors, the index fell from showing confidence to lacking confidence.

The index ranges from 0 to 100 points, with 50 and above indicating confidence and anything under signaling a lack of confidence.

Larissa Nocko, the economist responsible for the study, said the results for November “showed a generalized fall (in confidence) among sectors, different sized companies and regions of the country.”

The confidence of industrial entrepreneurs declined in all regions of Brazil, especially the southern region, where the index dropped 9.9 points, from 58.9 points in October to 49 points in November.