LatinNews Daily - 29 October 2021

In brief: Confidence in commerce and services recovers in Brazil

* The Instituto Brasileiro de Economia (Ibre) at the Fundação Getúlio Vargas (Ibre/FGV) university and think-tank in Brazil has released the latest figures for both its index of confidence for the services sector (ICS) and index of confidence in commerce (Icom); both show an uptick in October compared with September. The ICS grew by 1.8 points in October, largely recovering the two-point loss suffered in September, and accumulated a 0.4-point increase over the three months to October. Ibre/FGV economist Rodolpho Tobler noted that this result was due to an improvement in the perception of both the current situation of the services sector and the outlook over coming months. Meanwhile, the Icom grew by just 0.1 points in October, after two months of negative variation, and has accumulated a loss of 2.3 points over the three months to October. Low consumer confidence, high levels of uncertainty, inflation and the slow recovery of the labour market underpin the still challenging outlook for the retail trade sector, according to Tobler.

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