Chile Consumer Confidence October 2018

Chile

Chile: Consumer confidence edges up in October

November 7, 2018

The Adimark GfK consumer confidence index (IPEC, Índice de Percepción de la Economía) rose to 46.7 points in October, from 46.1 points in September, marking the first improvement after three consecutive months of deteriorating sentiment. However, the index remained well-below the critical 50-point threshold that separates pessimism from optimism among Chilean consumers, where it has been since August.

The less pessimistic reading at the beginning of the fourth quarter reflected gains in three out of the five components of the index compared to September, which more than offset the deterioration in the remaining two components. Consumers’ willingness to buy big-ticket household items improved markedly from September and was well-entrenched in positive territory. In addition, consumers’ assessment of the country’s current economic situation continued to improve in the surveyed month and fell just short of the 50-point threshold. Lastly, their opinion of the country’s stability over the next five years recovered slightly from a significant slip in September but remained deeply entrenched in negative territory.

On the other hand, consumers’ views regarding the economic situation over the next twelve months deteriorated in October, although it remained above the 50-point threshold. Consumer’s assessment of their current personal situation, however, remained in negative territory in October, deteriorating marginally from September.

Panelists participating in the LatinFocus Consensus Forecast expect private consumption to grow 3.5% in 2019, which is down 0.1 percentage points from last month’s forecast, and 3.2% in 2020


Author:, Economist

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Chile consumer confidence October 2018

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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