Brazil registers highest industry confidence since 2014

Brazil's industrial sector is feeling optimistic again, with confidence at its highest level since January 2014, said a report released Tuesday.

The Industry Confidence Index (Icei), compiled by Brazil's National Confederation of Industry, hit 53.7 points in September, a monthly increase of 2.2 points and an increase of 18 points over September 2015, when it stood at 35.7 points.

The index rose for the fifth month in a row with an accumulated growth of 16.9 points during the period.

The index ranges from 0 to 100, and anything over 50 signifies a positive economic outlook.

Confidence grew across all industrial sectors in September, including mining and quarries, manufacturing and construction, with rates above 50 points.

Brazil's large industrial companies registered the highest confidence, with an Icei of 55.7 points, while medium-sized firms registered 52.9 points and small companies 50.5 points.

Brazil's industrial output expanded for a fifth consecutive month in July as industry confidence grew on hopes that lawmakers will approve structural reforms, said a Bloomberg report.

However, local media The Rio Times said that the industry's overall results for 2016 would be negative with an 8.7-percent retraction in the first seven months of 2016. Endi