Chile: Business confidence deteriorates in November
Business confidence came in at 49.0 in November, down from October’s 58.2. November’s result marked the worst reading since December 2020, and was likely driven by a combination of election-related uncertainty, the new Omicron variant, intensifying cost pressures and higher interest rates. As a result, the index fell below the 50-point threshold, separating pessimism from optimism among businesses.
November’s reading was driven by more downbeat sentiment in the retail, construction, industrial and mining sectors, with mining suffering the sharpest fall.