Chile: Business confidence improves in Q3
October 9, 2013
The business confidence index (IEE, Indice de Expectativas Empresariales) produced by the Santiago Chamber of Commerce (Camara de Comercio de Santiago) inched up from 60.1 points recorded in the second quarter to 61.6 points in the third quarter. Business sentiment remains well above the 50-point threshold that separates optimism from pessimism. The increase was mainly the result of an improvement in sentiment in the commerce and natural resources sectors. According to the Chamber of Commerce, firms' perceptions about economic conditions for the next 12 months were more optimistic than in the second quarter. This optimistic sentiment was also reflected in businesses' outlook on future sales. LatinFocus panelists expect fixed investment to grow 8.9% this year, which is up 0.4 percentage points percentage points from last month's forecast. For 2014, the panel sees fixed investment decelerating to a 7.0% expansion, which is down 0.1 percentage points from last month's projection.
Author: Dirina Mançellari, Senior Economist