Chile: Business confidence drops to lowest level since April 2009
September 5, 2014
In August, the business confidence index (IMCE, Indicador Mensual de Confianza Empresarial) published by Icare and the Universidad Adolfo Ibañez fell from 42.2 points in July to 41.3 points, which marked the lowest level since April 2009. As a result, business confidence is now further below the 50-point threshold that separates pessimism from optimism.
August’s figure was driven by deterioration in most of the sub-components of the index, where construction recorded the biggest drop compared to the previous month. Conversely, mining performed slightly better compared to the previous month.
Author: Dirina Mançellari, Senior Economist