Chile: Consumer confidence reaches lowest level in nearly three years
September 10, 2014
In August, the Adimark GfK consumer confidence index (IPEC, Indice de Percepcion de la Economia) declined from July’s 47.5 points to 43.1 points. The index now sits at its lowest level in nearly three years. As a result, consumer confidence has fallen further below the 50-point threshold separating optimism from pessimism and now it rests at the lowest level since October 2011.
All of the components of the index deteriorated compared to the previous month. Consumers’ views about their personal economic situation deteriorated compared to July and now rest at its lowest value since August 2009. In addition, consumers were less optimistic regarding the country’s actual economic situation. The sub-indices representing their views on Chile’s growth prospects for the coming year and expectations to buy household items reached their lowest level in more than two and four years, respectively.
Author: Dirina Mançellari, Senior Economist