Chile Business Confidence August 2017

Chile

Chile: Business confidence ticks up in August

September 8, 2017

The business confidence index (IMCE, Indicador Mensual de Confianza Empresarial) published by ICARE and the Universidad Adolfo Ibáñez rose from 42.4 points in July to 43.2 points in August. The improved reading is in line with other signs pointing towards a gradual economic strengthening thus far in Q3. However, the indicator remains below the 50-point threshold that separates pessimism from optimism, where it has been since April 2014.

Augusts’ increase came on the back of improving sentiment in the commercial, industry and mining sectors, which more than offset greater pessimism in the construction sector. The commercial sector reported a more positive outlook due to improved demand and general business conditions, while the mining sector grew more optimistic, despite the government’s controversial decision not to approve the multi-billion dollar Dominga mining project. The construction sector remains mired deep in pessimistic territory, with stricter mortgage requirements putting off potential homebuyers, while the industry sector became more optimistic thanks to improved expectations for the country’s economy.

Panelists surveyed for last month’s LatinFocus report expected fixed investment to contract 0.2% in 2017, before rebounding and growing 2.9% in 2018. A new LatinFocus Consensus Forecast will be published on 12 September.


Author:, Economist

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Chile Business Confidence Chart


Chile Business Confidence August 2017

Note: Business Confidence Index (IMCE, Indicator Mensual de Confianza Empresarial). Values above 50 indicate optimistic perception, below 50 indicate negative perception.
Source: Universidad Adolfo Ibanez/ICARE


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