Chile Business Confidence December 2018


Chile: Business confidence inches down in December

January 2, 2019

The business confidence index (IMCE, Indicador Mensual de Confianza Empresarial) published by ICARE and the Universidad Adolfo Ibáñez inched down from 49.0 points in November to 48.8 points in December, staying below the crucial 50-point threshold that separates pessimism from optimism among businesses. In December, two out of the four sectors surveyed were in negative territory, matching November’s result.

The deterioration in December was led by the industrial sector, where sentiment fell deeper into negative territory for a third consecutive month, amid lower production expectations. Furthermore, confidence in the construction sector remained pessimistic, although forward looking price expectations improved. On a brighter note, the mining sector grew slightly more optimistic due to a better outlook for copper prices. Lastly, the commerce sector stayed optimistic, with all components remaining in positive territory.

Panelists surveyed for this month’s LatinFocus report forecast fixed investment to expand 5.2% in 2019, which is up 0.4 percentage points from last month’s forecast, and 4.0% in 2020, unchanged from last month’s estimate.


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Chile Business Confidence Chart

Chile Business Confidence October 2018 0

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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