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Financial News: BRAZIL: Industry Confidence Flash Data Points To Decrease

BRAZIL: Industry Confidence Flash Data Points To Decrease In June

06/21/2018 - 14:17:00 (RTTNews)

(RTTNews) - The Brazilian Industrial Confidence Index (ICI) flash data points out to a 1.4-point drop in June over the end of May, to 99.7 points, said the Getulio Vargas Foundation (FGV) ). If confirmed, it would be the lowest level of industry confidence since January.

The preliminary result reflects the worsening only in the evaluation of the present conditions, with the Current Situation Index, indicating a 6.2-point decrease from May to June, to 94.4 points. The Expectations Index rose 3.3 points, to 104.9 points.

"The June preview signals a decline in confidence under the influence of a significant deterioration of the assessments of the current situation," said Tabi Thuler Santos, FGV's Industry Survey coordinator. She ponders that the increase in economic uncertainty after the truckers' strike may lead to a final outcome that is more distant than the previous estimate.

Among the positive aspects, she highlights the gradual normalization of productive activities during the month. "Among the negatives is the perceived deterioration of the quality of the economic policy and the nearing of the elections," she added.

Regarding the Installed Capacity Utilization Level of the Industry, the preliminary survey indicates a fall of 0.2 percentage point (pp), to 76.3%, after two months of stability. The final result of the survey should be announced on June 29.

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