Chile: Business confidence deteriorates in November
Business confidence fell to 42.7 in November from October’s 43.9. As a result, the index remained entrenched below the 50-point threshold, indicating sustained pessimism among businesses.
November’s reading was driven by a deterioration in sentiment in the industrial, construction and mining sectors, which more than offset improved sentiment in the retail sector.
Downbeat business sentiment this year is likely to translate into a decline in fixed investment over 2023 as a whole. Concerns over the global economic outlook, high domestic interest rates, the lack of clarity regarding the new constitution and the government’s push to raise taxes have weighed on sentiment.