Chile: Consumer confidence drops sharply in March
The Adimark GfK consumer confidence index slid to 42.3 points in March, from 46.3 points in February. This marked the largest fall in four years and the eighth consecutive month that the index has languished below the critical 50-point threshold that separates pessimism from optimism among Chilean consumers.
March’s detailed estimate shows an across-the-board deterioration in the five sub-components of the index, with seasonal factors also partly to blame. Notably, consumers’ expectations about the country over the next 12 months slipped into negative territory. Moreover, their assessment of the country’s current situation and its stability over the next five years both decreased and remained below the 50-point threshold. Likewise, consumers’ perception of their own personal situation deteriorated and stayed negative in March. Lastly, their willingness to buy big-ticket household items fell although remained in positive territory nonetheless.