Preview of industry confidence shows recovery in July, says FGV

The preview of Brazilian industry confidence jumped in July, indicating that the sector is on track to recover much of the losses suffered at the height of the outages caused by the coronavirus pandemic, according to data released wednesday by the Getulio Vargas Foundation.
The preliminary result of the Industry Survey signals that the Industry Confidence Index (ICI) is expected to advance 12.5 points in June to 90.1 points. If this result is confirmed, the index will have recovered 74% of the losses observed between March and April, at the most critical point of covid-19's economic containment interruptions.
"The increase in confidence in this preview occurs by improving the evaluation of entrepreneurs in relation to the present and, mainly, of expectations in relation to the coming months," FGV said in a statement.
The Expectations Index -- which shows entrepreneurs' perception of the future of the industry -- is expected to gain 14.6 points, at 90.8 points.
The Current Situation Index, on the other hand, would show an increase of 10.2 points, to 89.4 points.
The improvement in the feeling of entrepreneurs in relation to the industry occurs amid the relaxation of quarantine measures in important economic centers of Brazil.