Brazil’s industry confidence highest in six months
RIO DE JANEIRO, Dec. 28 (Xinhua) -- Brazil's industry confidence reached 114.5 points in December, marking a peak in six months, the Getulio Vargas Foundation (FGV) announced Tuesday.The country's Industry Confidence Index (ICI) made a turnaround after the November figures fell to the lowest level in a year.
According to the FGV, the increase registered in December could be attributed to the industrialists' optimism about Brazil's economic prospect.
The Present Situation Index (ISA), which measures the confidence in Brazil's current economic situation, was up 1.3 percent to 116.2 points in December, the highest since April.
The Expectations Index (IE), which measures the industrialists' expectations for the next six months, reached 112.8 points in December, up 1.9 percent from November.
According to the FGV, 31 percent of industries planned to hire more employees in 2011, while 5.7 percent planned to cut staff.
A total of 31.6 percent considered the current demand level good, while 4.7 percent held the opposite opinion.
The ICI survey, carried out between Dec. 2 and Dec. 23, involved 1,196 companies across Brazil, whose combined profits reached 625.9 billion reais (388 billion U.S. dollars) last year
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