The Industrial Entrepreneur Confidence Index in Brazil rose further to 63.8 in December 2018 from 63.2 in the previous month. It is the strongest reading since June 2010, as the assessment for current conditions improved (53.5 from 52.7 in October), namely regarding the country's economic situation (53.6 from 51.9) and also the company's situation (53.6 from 53.1). In addition, future expectations increased (68.9 from 68.5), driven by optimism concerning the company's situation (69.2 from 68.7) while no changes are expected for the country's economic situation (68.4, the same as in November). Among sectors, confidence strengthened in mining (67.3 from 65.7), manufacturing (64.0 from 63.8) and construction (62.3 from 60.7). Business Confidence in Brazil averaged 53.81 Index Points from 2004 until 2018, 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 64.30 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 64.80 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.