Improves the relationship of São Paulo's industry with banks, but problems persist

The relationship of são Paulo's industry with banks has improved, but it is far from a happy marriage. The proportion of companies struggling with financial institutions fell from 70.7% last year to 65.9% in 2019, according to a survey by the Federation of Industries of the State of São Paulo (Fiesp). The share of industries struggling to honor their debts has also improved. It went from 31.5% in 2018 to 24.7% this year. The percentage of those with delayed plots decreased from 12.4% to 7.5%. It's still ground. Although the relationship is better, the numbers are still worrisome, in fiesp's view. They show that the problems persist, despite the fact that banks have evolved in dealing with the corporate world during the crisis and Selic is at its lowest historical level at 5.5%, reaching 4.5% at the end of this year.