Chile: Business confidence improves in the first quarter
March 5, 2012
In the first quarter, the business confidence index (IEE, indice de Expectativas Empresariales) produced by the Camara de Comercio de Santiago (CCS) rose to 68.5 points from 62.6 points in the previous quarter. The reading follows four consecutive declines, which had reflected concerns over the effects of the European debt crisis. At the current level, the index remains above the 50-point threshold that separates optimism from pessimism as well as the long term average of 67 points. The quarterly improvement was broad-based as confidence in all sectors rose substantially over the previous quarter. In addition, investment as well as sales expectations also improved - albeit at a moderate pace - over the previous quarter. Increasing optimism among businesses bodes well for investment in the months ahead.