The Industrial Entrepreneur Confidence Index in Brazil rose to 65.3 in January 2020 from 64.3 in the previous month. It was the highest reading since June 2010, driven by an improvement in the gauge measuring the current economic situation (61.5 from 59.2 in December) and the company's current situation (57.7 from 57.6). In addition, expectations over the next six months regarding the country's economic situation (67.9 from 66.5) and the company's situation (68.8 from 67.9) increased. Among sectors, confidence strengthened in manufacturing (65.7 from 64.6) and construction (64 from 63.1) while weakened in mining (63.7 from 65). Business Confidence in Brazil averaged 54.44 points from 2004 until 2020, reaching an all time high of 68.50 points in January of 2010 and a record low of 35 points in October of 2015. source: Confederacao Nacional da Industria (CNI)
Business Confidence in Brazil is expected to be 64.00 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 points in 2020, according to our econometric models.