The heavy rains that are affecting the Brazilian southern state of Rio Grande do Sul have shown the first indications of pessimism among industrial entrepreneurs.
Results of May for the ICEI index, that measures the level of confidence among entrepreneurs, have shown a decline from April among entrepreneurs in the Brazilian southern region.
The ICEI also unveils that the level of confidence among entrepreneurs of other regions remain positive, most of them showing increases in May.
Considering all the Brazilian regions, entrepreneurs of small industries have increased their level of confidence, although remaining in a grey area between optimism and pessimism.
For their turn, entrepreneurs of medium and large industries have increased their level of confidence, showing optimism with the country’s economy.
From April to May, the ICEI index for the metallurgy sector, which includes steel production, has declined from 51.9 to 50.1 points, remaining slightly above the optimism mark of 50.0 points.
The ICEI index for machinery and equipment has emerged from 49.8 to 51.4 points, possibly reflecting the good perspectives for the sale of agriculture equipment for the next round of heavy crops.
The research was developed by the industrial confederation CNI, between May 1 and 16, covering representatives of 2001 industries.