Chile: Business confidence drops in May
June 6, 2016
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.