Chile: Businesses turn less confident in March
April 4, 2016
Chilean businesses turned less confident in March. The business confidence index (IMCE, Indicador Mensual de Confianza Empresarial) published by ICARE and the Universidad Adolfo Ibáñez, fell from February’s eight-month-high of 46.4 points to 42.8 points in March, which marked the lowest reading in four months. Thus, the index remains below the 50-point threshold that separates pessimism from optimism, where it has been since April 2014.
March’s deterioration mainly reflected growing pessimism in the mining sector, where sentiment fell to an over- one-year low. Confidence among industries also decreased, albeit to a lesser extent. Conversely, sentiment improved somewhat in the construction and trade sectors.