Chile: Chilean consumers continue to lose confidence in December
January 7, 2019
The Adimark GfK consumer confidence index (IPEC, Índice de Percepción de la Economía) inched down to 44.6 points in December, from 44.9 points in November, the lowest reading in 16 months. As a result, the index slipped further below the critical 50-point threshold that separates pessimism from optimism among Chilean consumers, where it has been since August.
December’s detailed estimate highlights that four of the five components of the index deteriorated with respect to the previous month. Consumer’s opinion of the country’s stability over the next five years edged down and remained deeply anchored in negative territory. In addition, consumers’ assessment of the country’s current economic situation showed the sharpest fall of the month. Meanwhile, expectations about the country in the next twelve months and consumers’ willingness to buy big-ticket household items both deteriorated; nevertheless, they remained above the 50-point threshold.
Author: Nicolás J. Aguilar, Economist