In November, businesspeople from 29 industry sectors said they were more confident according to the sectoral results of the Icei (Industrial Entrepreneur Confidence Index) released by CNI (National Confederation of Industry) this Friday (28).
For the agency, the result shows slight improvement in the scene, Only five sectors closed October optimistically.
“The increase in confidence is linked, mainly, to the improvement in businesspeople’s expectations regarding their companies and the economy, but the assessment of the current situation remains quite negative, mainly because of high interest rates. This still ensures the resumption of optimism in a broader way”, explains Marcelo Azevedo, Economic Analysis manager at CNI.
Icei goes from 0 to 100 points. Values below 50 points indicate entrepreneurs with a lack of confidence and, above, with confidence.
for the second consecutive month. Among small industries, it grew 1.6 points, to 48.3 points, the highest level for the segment since January. In medium-sized companies, the Icei increased by 0.8 points, to 48.7 points, while in large companies it increased by 0.3 points, from 48.6 points to 48.9 points.
For this edition of Icei Setorial, CNI consulted 1,747 companies: 718 small; 617 medium-sized; and 412 large ones, between November 3 and 12, 2025.
