The Industrial Entrepreneur Confidence Index in Brazil increased to 59.4 in August 2019 from 57.4 in the previous month, driven by an improvement in expectations over the next six months regarding the country's economic situation (62.2 from 59.6 in July) and the company's situation (64.3 from 63.4). Also, the gauge measuring the current economic situation rose to 50.7 from 45.4 in the prior month, and the company's current situation went up to 51.2 from 47.8. Among sectors, confidence strengthened in mining (59.7 from 58.3) and construction (58.8 from 58.7) while weakened in manufacturing (59.5 from 56.9). Business Confidence in Brazil averaged 54.17 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 58.00 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 62.00 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.