Chile Business Confidence

Chile

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.

LatinFocus Consensus Forecast panelists expect fixed investment to grow 4.9% in 2014, which is down 0.2 percentage points from last month’s estimate. In 2015, the panel expects private investment to increase 3.0%, which is also down 0.2 percentage points from last month’s estimate.


Author:, Senior Economist

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Chile Business Confidence November 2014

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


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