Business confidence in trade drops in February, says Brazil´s national confederation

RIO DE JANEIRO, BRAZIL,  – The Business Confidence Index for Trade, measured by the National Confederation of Trade for Goods, Services and Tourism (CNC), dropped 1.5% between January and February this year, marking the second straight drop in the indicator. Compared to February 2020, the drop reached 18.5%.

Compared to January, the assessment of the current conditions fell by 3.1%, mainly due to entrepreneurs’ opinion about the economy’s current moment (-4.8%).

Entrepreneur expectations regarding the next month fell 1.6%, mainly due to confidence in the trade sector as a whole (-1.9%). Investment intentions also retreated (-0.2%), a drop driven by reduced plans to hire new employees (-3.2%).

Compared to February 2020, assessments of the present fell by 29.2%, of the future by 13.8%, and investment intentions dropped by 14.4%.

Source: Agencia Brasil

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