Chile Business Confidence November 2021

Chile

Chile: Business confidence deteriorates in November

December 1, 2021

Business confidence came in at 49.0 in November, down from October's 58.2. November's result marked the worst reading since December 2020, and was likely driven by a combination of election-related uncertainty, the new Omicron variant, intensifying cost pressures and higher interest rates. As a result, the index fell below the 50-point threshold, separating pessimism from optimism among businesses.

November's reading was driven by more downbeat sentiment in the retail, construction, industrial and mining sectors, with mining suffering the sharpest fall.

Panelists surveyed for this month’s LatinFocus report project fixed investment to increase 2.7% in 2022, which is down 0.4 percentage points from last month’s forecast. For 2023, they project it to grow 2.8%.


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Chile Business Confidence November 2021

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


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