Chile: Consumer confidence drops to lowest level since 2008
August 10, 2016
The mood among Chilean consumers worsened notably in July. The Adimark GfK consumer confidence index (IPEC, Índice de Percepción de la Economía) decreased from June’s 35.1 points to 33.0 points in July, which marked the lowest reading since August 2008. As a result, the index fell further below the 50-point threshold separating pessimism from optimism, where it has been resting for over two years.
July’s decrease reflected drawbacks in four of the five categories that compose the index. Consumers were particularly more pessimistic about Chile’s economic outlook in five years and the country’s current economic situation. Adding to this, consumers turned more pessimistic about their personal economic situation and Chile’s economic outlook in one year. By contrast, they were slightly more positive about their ability to purchase household items than in June.