Chile: Business sentiment picks up in May but remains largely pessimistic
The business confidence index (IMCE), published by ICARE and the Adolfo Ibáñez University, rose to 34.3 points in May from 31.7 points in April, which had marked an all-time low. Nevertheless, the index remained well below the crucial 50-point threshold that separates pessimism from optimism among Chilean businesses.
In May, sentiment improved in all four sub-components of the index: Commerce, construction, industry and mining. That said, only the mining sector reported optimism, as the remaining sectors remained deeply entrenched in pessimistic terrain.