Chile Consumer Confidence July 2016

Chile

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.

Panelists participating in the LatinFocus Consensus Forecast expect total consumption to grow 2.0% in 2016, which is unchanged from last month’s forecast. For 2017, the panel sees total consumption increasing 2.5%.


Author: Teresa Kersting, Economist

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Chile consumer confidence July 2016 0

Note: Consumer confidence index (IPEC, Indice de percepcion de la economía). Values above 50 indicate an optimistic assessment in consumer sentiment while values below 50 indicate a pessimistic assessment.
Source: Adimark GfK.


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