Chile Business Confidence


Chile: Businesses turn pessimistic in Q3 for first time since financial crisis

November 17, 2015

In Q3, the mood among Chilean businesses deteriorated and dropped to the lowest level since the financial crisis. The business confidence index (IEE, Indice de Expectativas Empresariales) produced by the Santiago Chamber of Commerce (Camara de Comercio de Santiago) deteriorated from Q2’s 52.3 points to 49.8 points in October, the lowest reading since Q4 2008. As a result of the decrease, the index dipped below the 50-point threshold that separates optimism from pessimism for the first time since Q3 2008.

According to the Santiago Chamber of Commerce, the decrease in Q3 mainly reflected a downward adjustment in businesses’ expectations for economic growth in the next years, as well as uncertainties regarding future economic, political and institutional developments in Chile.

Panelists participating in the LatinFocus Consensus Forecast expect fixed investment to drop 1.5% this year, which is up 0.2 percentage points from last month’s forecast. For 2016, the panel sees fixed investment to expand 1.2%, which is down 0.1 percentage points from last month’s forecast.

Author: Teresa Kersting, Economist

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Chile Business Confidence Chart

Chile Business ConfidenceCCS Q3 2015

Note: Business Confidence Index (IEE, Indice de Expectativas Empresariales). Values above 50 indicate optimistic perception, below 50 indicate negative perception.
Source: Camera de Comercio de Santiago (CCS).

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