Brazil’s industrial business confidence grows in 28 of 30 sectors – CNI

RIO DE JANEIRO, BRAZIL – The Industrial Business Confidence Index (ICEI) grew in May compared to April 2021, in 28 of the 30 industry sectors analyzed, the National Confederation of Industry (CNI) reported on May 26.

The index ranges from 0 to 100 points. Values above 50 points reflect the entrepreneur’s confidence. The closer to 100, the higher and more widespread is confidence. The closer to 0, the lower the entrepreneur’s confidence.

The most confident sectors, in May 2021, were metallurgy, with an index of 63.4; followed by machinery and equipment, with 62.3; and chemicals (excluding HPPC, perfumery, and cosmetics), which posted a confidence index of 61.3. Metal products (excluding machinery and equipment) came in at 61 and automotive vehicles, trailers and buses, at 60.6.

The sectors with the lowest confidence are beverages, with an index of 52.9; footwear and related parts, with 53.7; and machines, appliances, and electric materials, with 54.1. The cleaning, perfumery and personal hygiene (HPPC) sector stands at 54.2 and the clothing and accessories sector at 54.6.

“The two industry sectors that were lacking confidence in April crossed the 50-point divide in May, suggesting that they have regained confidence: footwear and related parts and cleaning products, perfumery and personal hygiene,” the CNI survey states.

According to the survey, compared to May last year, the vehicle sector’s ICEI rose from 29.6 to 60.6 points. The metallurgy sector increased from 33.8 to 63.4 points; computer equipment increased from 30.1 to 58.1 points, and machinery and equipment increased from 33.7 to 62.3 points.

In this year-on-year comparison, the lowest growth occurred in the cleaning products sector, with an increase of 9.1 points. The ICEI stood at 45.1 and rose to 54.2 points.