Chile: Business confidence drops to over-five–year low in November
December 8, 2014
The business confidence index (IMCE, Indicador Mensual de Confianza Empresarial) published by ICARE and the Universidad Adolfo Ibañez fell from 41.5 points in October to 40.6 points in November, which marked the lowest print since April 2009. As a result of the decrease, the index is now further below the 50-point threshold that separates pessimism from optimism.
November’s drop was mainly driven by a sharp deterioration in the mining and industry sectors, which reached the lowest levels since November 2013 and June 2009, respectively. Trade and construction performed better compared to the previous month although the improvement was not substantial enough to offset the overall decline.
Author: Dirina Mançellari, Senior Economist