Nearly all industry sectors grow in economic confidence

industry confidence
Usiminas has the largest steel complex in Latin America. Photo: T photography/Shutterstock

According to the Industrial Entrepreneur Confidence Index (ICEI), June was the second consecutive month of massive confidence gains among all the country’s industrial segments. The numbers were analyzed by Brazil’s National Industry Confederation (CNI). 

CNI experts explain that the results point toward a positive second half of 2021 for the Brazilian economy “by way of increased production, investment and hirings.” 

The only sector to suffer a drop in confidence was transport, yet it remains above the positive threshold of 50 points. Brazil’s GDP fell 4.1 percent last year, but pre-pandemic performance levels were restored during Q1 2021.