Chile: Consumer sentiment plummets to new all-time low in May on Covid-19 fallout
The Adimark GfK consumer confidence index fell to 21.2 points in May, from 21.6 points in April, marking a new 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.
May’s dismal print saw four out of the five subcomponents of the index falling 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-ticket household items both dipped. Similarly, their perception regarding the country’s current situation and one-year economic outlook fell from a month earlier. On the upside, their five-year economic outlook improved slightly.