Confidence in Brazil industry slipping: survey

Confidence among businesspeople on the outlook for Brazilian industry has fallen again in September, after having stabilised in August, Brazilian news agency Brasil reported on Friday.

According to a survey by Brazil’s National Confederation of Industry (CNI), the Industrial Entrepreneur Confidence Index fell during the month by 1.4 points month-on-month to 35.7 points. It operates on a scale from 0 to 100. The September index number was 10.9 points lower than in the equivalent period in 2014.

A number below 50 represents a lack of confidence by entrepreneurs. The index has been below 50 points for 18 months, CNI noted, according to the news agency.

The media outlet also reported on Friday – quoting official data – that the number of people employed by Brazilian industry shrank by 0.7 percent in July, versus June.

“Compared with July 2014, industrial employment dropped 6.4 percent, the 46th consecutive negative figure in this type of comparison and the most intense since July 2009”, the Brazilian Geography and Statistics Bureau (IBGE) said in a statement on its official website.