Chile: Business confidence reaches lowest level in nearly six years
January 8, 2015
The business confidence index (IMCE, Indicador Mensual de Confianza Empresarial) published by ICARE and the Universidad Adolfo Ibañez fell from 46.6 points in November to 40.2 points in December, which marked the lowest print since April 2009. As a result of the decrease, the index is now further below the 50-point threshold that separates pessimism from optimism.
December’s drop was mainly driven by a sharp deterioration in the construction sector, which reached the lowest level in three months. Conversely, industry and the mining sector performed better compared to the previous month although the improvement was not substantial enough to offset the overall decline.
Author: Dirina Mançellari, Senior Economist