Chile Consumer Confidence August 2020

Chile

Chile: Consumer confidence ticks up in August

September 3, 2020

The Adimark GfK consumer confidence index rose to 25.5 points in August, from 21.2 points in July, marking the strongest reading in five months. However, the index remained entrenched below the critical 50-point threshold that separates pessimism from optimism among Chilean consumers.

August’s reading was driven by improved sentiment regarding the economic outlook for the next year, current general economic conditions and personal financial conditions. In contrast, consumers grew somewhat more pessimistic regarding the stability of the country in the next five years.

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%.


Author: Massimo Bassetti, Senior Economist

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