Chile Consumer Confidence May 2020

Chile

Chile: Consumer sentiment plummets to new all-time low in May on Covid-19 fallout

June 2, 2020

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.

Panelists participating in the LatinFocus Consensus Forecast project private consumption to fall 4.0% in 2020, which is from unchanged from last month’s forecast. For 2021, the panel projects private consumption to grow 3.7%.


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Chile consumer confidence May 20 20

Note: Consumer confidence index (IPEC, Indice de percepcion de la economía). Values above 50 indicate an optimistic assessment in consumer sentiment while values below 50 indicate a pessimistic assessment.
Source: Adimark GfK.


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