Chile: Business confidence roars back into positive territory in January
The business confidence index (IMCE, Indicador Mensual de Confianza Empresarial) published by ICARE and the Universidad Adolfo Ibáñez surged from 44.0 points in December to 53.8 points in January, moving into optimistic territory for the first time since March 2014. The rebound in confidence comes hot on the heels of the second round of the presidential elections, which saw business-friendly ex-President Sebastian Piñera return to power.
January’s increase came on the back of marked improvements in sentiment across the board, with the mining and industry sectors returning to positive territory. The commercial sector moved further into positive territory, while firms in the construction sector grew less gloomy, although sentiment in the sector remained broadly pessimistic.