The Industrial Entrepreneur Confidence Index in Brazil declined to 58.4 in April 2019 from 61.9 in the previous month. It was the lowest reading in six months, as the assessment for current conditions deteriorated (49.8 from 53.6 in March), of which the country's economic situation (49.4 from 54.3) and the company's situation (50.1 from 53.3). Also, future expectations worsened (62.6 from 66.1), namely regarding the company's situation (63.7 from 66.7) and the country's economic situation (60.7 from 65). Among sectors, confidence weakened in construction (56.4 from 59.8); and manufacturing (58.9 from 62.5) while strengthened in mining (61.1 from 60.1). Business Confidence in Brazil averaged 54.07 Index Points from 2004 until 2019, reaching an all time high of 68.50 Index Points in January of 2010 and a record low of 35 Index Points in October of 2015.
Business Confidence in Brazil is expected to be 62.70 Index Points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Business Confidence in Brazil to stand at 64.60 in 12 months time. In the long-term, the Brazil Business Confidence is projected to trend around 65.00 Index Points in 2020, according to our econometric models.