Chile Business Confidence May 2022

Chile

Chile: Business confidence falls in May

June 1, 2022

Business confidence came in at 46.5 in May, down from April's 47.5. May's result marked the weakest sentiment since August 2020. As a result, the index remained below the 50-point threshold, pointing to pessimistic sentiment among businesses. Factors such as high inflation, rising interest rates, Covid-19 lockdowns in China, the war in Ukraine and concerns over the constitutional process at home have likely weighed on sentiment in recent months.

May's fall was driven by more pessimistic sentiment in the retail sector. In addition, confidence in the construction and industrial sectors fell. In contrast, mining-sector sentiment improved.

Panelists surveyed for this month’s LatinFocus report project fixed investment to increase 0.9% in 2022, which is down 0.2 percentage points from last month’s forecast. For 2023, they project it to fall 0.3%.


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Chile Business Confidence May 2022

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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