The Service Confidence Index, of the Getulio Vargas Foundation (FGV), increased 9.4 points from April to May. The increase came after the indicator reached its historic low in April: 51.1. With that, the index reached 60.5 points, on a scale of zero to 200 points. The figures were released today (28) in Rio de Janeiro.

Despite the increase, the index recovers only 21.7% of the losses suffered in the last two months. “After deterioration in the last two months, the confidence in the service sector has risen again. The result recovers only 21.7% of what was lost in the last two months and, therefore, should be evaluated with caution. The improvement was greatly influenced by the revision of expectations, signaling a reduction in pessimism ”, said one of FGV's economists, Rodolpho Tobler.

The 13 service segments surveyed had an increase in confidence. The Current Situation Index, which measures the confidence of service entrepreneurs at present, rose 1.5 points after four consecutive declines, to 57 points. The Expectations Index, which measures confidence in the future, grew 17.4 points to 64.7.

The Level of Utilization of Installed Capacity (Nuci) in the service sector fell 1.5 percentage points, standing at 78%.