Chile: Business confidence continues to inch up in August
September 5, 2016
For a second consecutive month, the mood among Chilean businesses improved marginally in August after having fallen to the lowest level in over seven years in June. The business confidence index (IMCE, Indicador Mensual de Confianza Empresarial) published by ICARE and the Universidad Adolfo Ibáñez edged up from July’s 39.5 points to 40.2 points in August. The index remains well below the 50-point threshold that separates pessimism from optimism, where it has been since April 2014.
August’s minor increase mainly reflected less pessimistic sentiment in the construction sector, where confidence had fallen to an unprecedented low in July, and in the industrial sector. Conversely, sentiment deteriorated in the mining and trade sectors.