Chile: Business confidence picks up slightly in December
January 4, 2017
The business confidence index (IMCE, Indicador Mensual de Confianza Empresarial) published by ICARE and the Universidad Adolfo Ibáñez rose to 41.5 points in December from November’s 41.0 points. Despite the slight improvement, the indicator remains firmly entrenched below the 50-point threshold that separates pessimism from optimism, where it has been since April 2014.
December’s rise was driven by improving sentiment in the mining, construction and industry sectors, while the commercial sector declined. The mining sector is currently the only sector in optimistic territory, having briefly fallen below the 50-point threshold last month, with its improvement underpinned by a more positive outlook for copper prices.
Author: Oliver Reynolds, Economist