Chile Consumer Confidence June 2020

Chile

Chile: Consumer confidence grows gloomier in June

July 2, 2020

The Adimark GfK consumer confidence index fell to 20.3 points in June, from 21.2 points in May, marking a new record low in the survey’s history. Thus, the index fell deeper below the critical 50-point threshold that separates pessimism from optimism among Chilean consumers.

June’s reading was driven by worse sentiment regarding current general economic conditions and personal financial conditions. In contrast, consumers grew slightly less gloomy regarding the economic outlook for the next year. Rock-bottom consumer sentiment bodes poorly for private consumption in Q2.

Panelists participating in the LatinFocus Consensus Forecast project private consumption to fall 5.6% in 2020, which is down 1.6 percentage points from last month’s forecast. For 2021, the panel sees private consumption growing 4.3%.


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Chile Consumer Confidence June 20 20 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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