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Financial News: BRAZIL: Industry Confidence Falls In June, Affected By

BRAZIL: Industry Confidence Falls In June, Affected By Trucker Strike

07/01/2018 - 17:58:00 (RTTNews)

(RTTNews) - The Brazilian Industrial Confidence Index (ICI) data recorded a 1.0-point drop in June over May, to 100.1 points, said the Getulio Vargas Foundation (FGV). June's ICI hit its lowest level since January. The confidence decreased in 12 out of 19 segments surveyed.

According to FGV, there was a worsening in the evaluation of the current situation, while improved the outlook for the coming months.

From May to June, the Current Situation Index (ISA) fell by 5.5 points, to 95.1 points, the lowest level since September 2017, while the Expectations Index (EI) increased by 3.4 points, to 105.0 points, the highest level since May 2013.

In the evaluation of FGV's Industry Survey Coordinator, Tabi Thuler Santos, "the discontinuity in road freight transport, which occurred between the end of May and the beginning of June, increased final product inventories and reduced inventories of inputs, affecting costs, production, capacity utilization, and confidence."

For her, improving expectations may be a temporary effect, influenced by the base effect of weak industry performance in May. Regarding EI, the expectation indicator with the evolution of employed personnel in the following three months rose 6.2 points, to 107.3 points, the highest since June 2011. Prospects for production rose 5.8 points to 108.0 points, the highest level since May 2013.

Regarding the Installed Capacity Utilization Level of the Industry, the survey recorded a fall of 0.3 percentage point (pp), to 76.2%, in June over May.

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