Chile: Business confidence edges up in August
The business confidence index (IMCE), published by ICARE and the Adolfo Ibáñez University, improved again in August, coming in at 51.0 points (July: 50.4 points). As a result, the index moved further above the crucial 50-point threshold that separates optimism from pessimism among Chilean businesses.
August’s reading was driven by improving sentiment in the construction and manufacturing sectors. That said, confidence in both sectors remained in negative territory. This contrasted mining sector sentiment which remained firmly entrenched in positive territory despite a slight weakening in August. Lastly, confidence in the commercial sector remained unchanged and marginally positive in the surveyed month.