LatinNews Daily - 25 November 2021

In brief: Consumer confidence down in Brazil

* The Instituto Brasileiro de Economia (Ibre) at the Fundação Getúlio Vargas (FGV) university has released the latest figures from its index for consumer confidence (ICC), which show that consumer confidence has slumped in Brazil in November. The ICC fell 1.4 points compared with October to 74.9 points, its lowest level since April when the country was suffering a severe wave of coronavirus (Covid-19) infections. Confidence in both the current situation and future outlook has fallen. “Consumer confidence has gone back to showing negative results. Despite the advance of vaccination, its favourable consequences in reducing cases and deaths, and the flexibilisation of restrictive measures [against Covid-19], the increase of economic uncertainty in the face of high inflation, restrictive monetary policy, and higher indebtedness of low-income families means the situation remains uncomfortable and the outlook is still full of threats”, Viviane Seda Bittencourt, coordinator of surveys at the FGV’s Ibre, explains.

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