2023-10-28 00:10:35
© Reuters. FecomercioSP: Optimism among São Paulo businesspeople rises 1.4% in October, 5th consecutive increase
The confidence of São Paulo’s business community in the economy grew 1.4% in October, compared to the previous month. Even with the fifth consecutive increase, the performance is lower compared to the same period last year. The data is part of the Commerce Entrepreneur Confidence Index (ICEC), from FecomercioSP.
The indicator went from 110.2 points in September to 111.7 points in October. This was the best score since February. From June to October, the accumulated increase was 7%.
In line with ICEC, other indicators, which assess the conditions of businesspeople, also showed an increase. Between September and October, the Commerce Entrepreneur Investment Index (IIEC) increased from 101.7 points to 103.1 points, which shows an improvement in the sector players’ willingness to invest in their own business. With an even more significant increase, the Commercial Entrepreneur Current Conditions Index (ICAEC) increased from 107.2 points to 108.2 points in the same period. The Trade Expansion Index (IEC) grew 1%.
The positive numbers were not enough to raise the score in the annual comparison. The ICEC dropped 8.8% compared to October last year.
Low in stocks
The inventory index (IE) fell 0.7% in October compared to the previous month. Despite the drop, volume rose 1.8% compared to last year’s amount. Another positive aspect is that around 58% of entrepreneurs say they have adequate stocks.
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