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LatinNews Daily - 30 November 2021

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In brief: Indicators show muted outlook in Brazil

* The Instituto Brasileiro de Economia (Ibre) at the Fundação Getulio Vargas (FGV) university has released a series of indicators which show that confidence in Brazil’s economic outlook is falling. Both the index for commerce confidence (Icom) and the index for services confidence (ICS) were down in November, by 6.2 and 2.3 points respectively. This follows a drop in the Ibre-FGV’s index on consumer confidence (ICC) and index on industry confidence (ICI), for November also. Commenting on both the Icom and the ICS, FGV economist Rodolpho Tobler said that the index’s performance reflects a slowdown in Brazil’s economic recovery, and uncertainties regarding both trade and the services sector in the coming months amid a “fragile macroeconomic environment”, high inflation, and a slow recovery of the labour market.