The Business Confidence Index (ICE) measured by Fundação Getulio Vargas (FGV) rose 14.9 points in June this year. This is the second consecutive increase in the indicator, which had grown 9.8 points in May.

With the highs, the indicator reached 80.4 points, on a scale from zero to 200 points. According to FGV, the index recovered only 61% of the losses that occurred in the confidence of the Brazilian entrepreneur in March and April, due to the pandemic of the new coronavirus (covid-19) and remains at a historically low level.

The Expectations Index, which measures confidence in the future, rose 19.4 points to 82.4 points. The Current Situation Index, which measures the current business situation, rose 8.7 points to 72.6 points.

Among the four sectors covered by the survey, the greatest increase in confidence was observed in commerce (17 points) and industry (16.2 points). Services increased by 11.2 points, while construction rose 9.1 points.

"Despite the high levels of uncertainty, the perception that the worst moment may have passed has started to gain strength in the business world. As a result, expectations have become less pessimistic, forming a scenario compatible with that of a slow resumption of the level of economic activity ", says FGV researcher Aloisio Campelo Jr.