Chile: Business confidence rises in January
February 6, 2017
The business confidence index (IMCE, Indicador Mensual de Confianza Empresarial) published by ICARE and the Universidad Adolfo Ibáñez rose to 44.9 points in January, a substantial improvement from December’s 41.5 points and marking the highest reading in eleven months. Despite the significant uptick, the indicator remains entrenched below the 50-point threshold that separates pessimism from optimism, where it has been since April 2014.
January’s rise was driven by improving sentiment across the board, with the commercial, mining, construction and industry sectors becoming more optimistic. The mining sector recorded by far the largest monthly rise, jumping over ten points compared to December in line with an uptick in copper prices, while the commercial sector moved back into optimistic territory.
Author: Oliver Reynolds, Economist