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Chile Business Confidence March 2020

Chile: Business sentiment deteriorates in March

The business confidence index (IMCE), published by ICARE and the Adolfo Ibáñez University, fell to 40.7 points in March from 43.9 points in February. Thus, the index fell further below the crucial 50-point threshold that separates pessimism from optimism among Chilean businesses.

In March, sentiment in the construction, industrial and commerce sectors turned more pessimistic as the mounting challenges posed by the Covid-19 pandemic and the restrictions taken by the government to corral it weighed on economic activity. Meanwhile, optimism in the mining sector deteriorated amid falling copper prices.

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