Chile: Consumer confidence drops to six-month low
June 17, 2013
In May, the Adimark GfK consumer confidence index (IPEC, Indice de Percepcion de la Economia) dropped from 59.2 points in April to 55.2 points, reaching the lowest level in six months. Despite the fall, confidence among consumers remains above the 50-point threshold that separates optimism from pessimism.
The contraction was broad based as all sub-indicators experienced falls compared to the previous month. Respondents to the survey expressed a more pessimistic outlook on the country's current conditions, as well as their personal current situation. In addition, consumers' assessment of the five year national outlook also worsened, reaching the lowest level in five months.
LatinFocus Consensus Forecast participants expect total consumption to grow 5.3% this year, which is down 0.1 percentage points from last month's forecast. For 2014, the panel sees total consumption expanding 4.9%.