Chile: Consumer sentiment in August drops to lowest level in over six years
September 7, 2015
In August, the Adimark GfK consumer confidence index (IPEC, Indice de Percepcion de la Economia) declined from July’s 34.3 points to 33.9, which represents the lowest level since November 2008. As a result, the index moved further below the 50-point threshold separating pessimism from optimism, where it has been for the last 15 months.
August’s deterioration reflects setbacks in four of the five sub-categories that comprise the index. Consumers’ assessments of the country’s economic situation in the next 12 months deteriorated the most, followed by consumers’ assessments of their current personal economic situations. Households also assessed the country’s current economic situation more negatively and their views on the purchase of household items worsened. Conversely, consumers were more confident about the country’s economic situation in five years.