Chile: Business confidence slips in October
November 30, 2011
In October, the business confidence index (IMCE, Indicador Mensual de Confianza Empresarial) published by Icare and the Universidad Adolfo Ibanez edged down to 57.4 points from 59.0 points in September. Despite the drop, the index remains above the 50-point threshold that separates optimism from pessimism, suggesting a somewhat positive outlook for investment going forward. The weaker October reading was broad-based, as almost all sub-categories worsened over the previous month. The industrial and the mining sectors showed notable deteriorations, with only construction improving slightly over September. At the current level, however, all sub-categories still remain above the 50-point threshold, which implies an optimistic outlook in all the main industrial sectors.