Chile: Consumer sentiment plummets to an all-time low in April as Covid-19 bites
May 4, 2020
The Adimark GfK consumer confidence index fell to 21.6 points in April, from 27.8 points in March, 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.
April’s dismal print saw all five subcomponents of the index sinking deeper into negative territory, as consumers quarrel with the Covid-19 pandemic and the social distancing measures taken to curtail its spread. Consumers’ perception of their own personal situation and their willingness to purchase big-tickets household items suffered the biggest drop. Meanwhile, their perception of the current situation of the country, their one-year outlook and their five-year outlook, all dropped to a lesser extent.
Author: Nicolás J. Aguilar, Economist