2025.09.1114:26:20UTC+00Brazil Business Confidence Edges Lower Amid Mixed Expectations

In September, Brazil's Industrial Entrepreneur Confidence Index (ICEI) experienced a minor decline, registering at 46.2 points, a marginal change from August’s figure of 46.1. This marks the ninth consecutive month of subdued confidence levels. This overall stability results from contrasting developments: a worsening perception of current conditions and a modest enhancement in future expectations. The Current Conditions Index decreased to 41.9, reflecting entrepreneurs' belief that the economic and business climate has deteriorated over the past six months. Monthly declines were mainly influenced by deteriorated business conditions (a drop of 1.3 points to 45.2), which were slightly counterbalanced by an improved perception of Brazil’s economic situation (an increase of 0.5 points to 35.3). Meanwhile, the Expectations Index rose to 48.3, indicating a less negative outlook for the upcoming six months, driven by a slightly more positive perspective on the broader economy (a rise of 0.9 points to 39.5) and increased optimism regarding their own companies (an uptick of 0.3 points to 52.7).