Chile: Consumer confidence slips to a 15-month low in November
December 6, 2018
The Adimark GfK consumer confidence index (IPEC, Índice de Percepción de la Economía) fell to 44.9 points in November, from 46.7 points in October, marking the weakest reading since August 2017. As a result, the index slipped further below the critical 50-point threshold that separates pessimism from optimism among Chilean consumers, where it has been since August.
November’s reading reflected weaker sentiment in four out of the five components of the index compared to October. Consumers’ opinion of the country’s stability over the next five years fell markedly in November and remained very deeply entrenched in negative territory. In addition, consumer’s assessment of their current personal situation remained in negative territory in November, deteriorating further from the previous month. Meanwhile, their assessment of the country’s current economic situation worsened in the surveyed month and slipped further below the 50-point threshold.
Consumer’s opinion of the country’s stability over the next twelve months continued to deteriorate in November, although it remained in positive territory. Lastly, their willingness to buy big-ticket household items improved again in the surveyed month, as the sub-index moved further above the 50-point threshold.
Author: Almanas Stanapedis, Economist