Chile Business Confidence May 2016


Business confidence drops in May

The mood among Chilean businesses worsened in May. The business confidence index (IMCE, Indicador Mensual de Confianza Empresarial) published by ICARE and the Universidad Adolfo Ibáñez fell from April’s 43.3 points to 41.7 points in May, marking the lowest reading in nine months. Thus, the index remains below the 50-point threshold that separates pessimism from optimism, where it has been since April 2014.

May’s setback mainly reflected growing pessimism among the construction, trade and industry sectors. Pessimism was particularly evident in the construction sector, where the mood fell to the lowest point in over seven years. Conversely, mining was the only sector that recorded a rise, with sentiment hitting the highest reading in eight months.

Panelists surveyed for this month’s LatinFocus report expect fixed investment to grow 0.8% in 2016, which is unchanged from last month’s estimate. In 2017, the panel expects private investment to increase 2.3%.

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Chile Business Confidence Chart

Chile Business Confidence May 2016

Note: Business Confidence Index (IMCE, Indicator Mensual de Confianza Empresarial). Values above 50 indicate optimistic perception, below 50 indicate negative perception.
Source: Universidad Adolfo Ibanez/ICARE

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