Chile: Business confidence inches up from June's over-seven-year low but remains subdued
August 5, 2016
The mood among Chilean businesses improved marginally in July after having fallen to the lowest level in over seven years in June. The business confidence index (IMCE, Indicador Mensual de Confianza Empresarial) published by ICARE and the Universidad Adolfo Ibáñez edged up from June’s 39.2 points to 39.5 points in July. Thus, the index remains well-below the 50-point threshold that separates pessimism from optimism, where it has been since April 2014.
July’s minor increase mainly reflected growing optimism in the mining and the trade sectors. Conversely, sentiment deteriorated in the construction and the industry sectors. Pessimism was particularly evident in the construction sector, where the mood fell to an unpreceded low.