ICEI-Business Confidence Index
As a leading indicator of industrial performance, the ICEI detects shifts in industrial production trends. The data required for building the ICEI index are collected in tandem with the Industrial Survey and the Construction Survey. Confidence indices are made available for three company sizes (small, medium and large), for the five Brazilian geographic regions, and for the different sectors of the mining and quarrying, manufacturing, and construction industries.
Industrial entrepreneurs show lack of confidence for eleven months
In November 2025, the Industrial Business Confidence Index (ICEI) stood at 48.3 points. This represents the third consecutive increase, recovering part of the decline seen in previous months and approaching the level observed in June 2025 (48.6 points). Despite the increase, ICEI completed eleven consecutive months of lack of confidence, below 50 points. With the rise in ICEI, the perception of lack of confidence persisted but became more moderate.
November 14, 2025
