Confidence among Brazilian industrial entrepreneurs declined in June, according to data released by the National Confederation of Industry (CNI). The Industrial Entrepreneur Confidence Index (ICEI) fell 0.3 percentage points, dropping from 48.9 in May to 48.6 points in June—remaining below the 50-point threshold that separates optimism from pessimism.
The slight drop reflects growing concerns about current economic conditions, despite some lingering hope for future improvement.
CNI’s breakdown of the index shows a mixed outlook:
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The current conditions component rose marginally by 0.1 points to 44.4, but remains in pessimistic territory, indicating widespread dissatisfaction with the present state of the domestic economy.
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The expectations component dropped 0.4 points to 50.9, suggesting that while entrepreneurs are still slightly optimistic about the next six months, their confidence has weakened.
More detailed data reveals a split in sentiment:
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Expectations for industrial company performance in the next six months are moderately optimistic, with a score of 55.5 points.
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In contrast, expectations for the broader domestic economy remain pessimistic, registering just 41.7 points.
Analysts interpret the data as a reflection of a fragile industrial climate, where uncertainty about the present is dampening enthusiasm, even as some business leaders continue to bet on recovery.
The survey was conducted from June 2 to June 6, and included responses from 1,169 industrial companies across Brazil.
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