The Industry Confidence Index, measured by the Getulio Vargas Foundation (FGV), fell 1.8 points from February to March. As a result, the indicator fell to 97.2 points, on a scale of zero to 200, the lowest level since last December.
Confidence decreased in 14 of the 19 industrial segments surveyed. The Current Situation Index, which measures business confidence in the present moment, fell 1.7 points to 97.1 points after four consecutive advances. The main reason was the reduction of satisfaction with the current level of demand.
Expectations Index, which measures confidence in the future, fell by 1.8 points to 97.4 points due to the component that measures the optimism of the businessmen in relation to the evolution of the business environment in the following six months.