LatinNews Daily - 26 November 2020

* The Instituto Brasileiro de Economia (Ibre) at the Fundação Getúlio Vargas (FGV) has released the latest figures for its index of consumer confidence (ICC), according to which consumer confidence in Brazil has fallen for the second consecutive month. The ICC for November stood at 81.7, 0.7 points below the October ICC, which had fallen one point in relation to the September ICC. Consumer confidence in Brazil had plunged with the onset of the coronavirus (Covid-19) pandemic in March and April, before beginning to recover from May, although it remained below pre-pandemic levels. This second consecutive fall in consumer confidence in November reflects “an increase in uncertainty relating to the pandemic and its potential impact on the economy”, Viviane Seda Bittencourt, coordinator of the Ibre’s surveys, says, amid warnings that Brazil might be facing a second wave of Covid-19 infections, and the planned end in December of the government’s emergency handout to the most economically vulnerable. Bittencourt notes that consumer confidence has fallen both in relation to the current scenario and future expectations.  

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