The Industrial Entrepreneur Confidence Index in Brazil fell to 61.9 in March 2019 from 64.5 in the previous month. It was the weakest reading since October, as the assessment for current conditions deteriorated (53.6 from 55.6 in January), namely regarding the country's economic situation (54.3 from 57.1) and the company's situation (53.3 from 55). Also, future expectations increased at a slower pace (66.1 from 69), of which the company's situation (66.7 from 69.2) and the country's economic situation (65 from 68.5). Among sectors, confidence weakened in construction (59.8 from 63.3); manufacturing (62.5 from 64.7) and mining (60.1 from 66.7). Business Confidence in Brazil averaged 54.03 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 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 64.60 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.