Chile: Consumer sentiment slumps to an over two-year low in June
July 5, 2019
The Adimark GfK consumer confidence index declined to 37.8 points in June, from 40.7 points in May, marking the lowest reading since March 2017. Consequently, the index fell further below the critical 50-point threshold that separates pessimism from optimism among Chilean consumers.
June’s detailed estimate showed an across-the-board deterioration in all five sub-components of the index. Notably, consumer’s willingness to buy big ticket-household items fell into negative territory, while their current and one-year outlooks of the country’s economic situation both dropped markedly. In addition, their judgment of the country’s stability over the next five years ticked down and remained deeply entrenched in pessimistic territory, while their perception of their own economic situation edged down.
Author: Nicolás J. Aguilar, Economist