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LatinNews Daily - 25 May 2021

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In brief: Households’ consumption outlook down in Brazil

* The Confederação Nacional do Comércio de Bens, Serviços e Turismo (CNC), a private sector lobby group in Brazil, has released the latest figures for its indicator on the intention of households’ consumption (ICF), which shows a prevailing sense of pessimism as to the economic outlook. The ICF fell 1.6% in May compared with April, the second consecutive slump, and 17.3% compared with May 2020, to the month’s lowest level since records began. A majority of households (42.9%) consider that their income has worsened compared with last year, while over half (58.1%) have a negative outlook for the next few months, as the coronavirus (Covid-19) pandemic continues to beset the country, with warnings of an imminent third wave of infections. “There is still a lot of doubt regarding the capacity for economic recovery by the end of the year. The labour market has been underpinning the resilience of Brazilians, encouraging their consumption, but even companies face obstacles. Until we reach collective immunisation [against Covid-19], we will not be able to end this oscillation completely,” the CNC president, José Roberto Tadros, said.