Chile: Consumer sentiment weakens in August
September 5, 2019
The Adimark GfK consumer confidence index fell to 39.4 points in August, from 40.3 points in July. Consequently, the index edged further below the critical 50-point threshold that separates pessimism from optimism among Chilean consumers.
August’s detailed estimate showed that the deterioration was generally broad-based. Consumers’ current and one-year outlooks of the country’s economic situation weakened and remained in negative territory. On top of that, consumers’ perception of their own economic situation softened in the surveyed month and continued hovering in pessimistic territory.
That said, consumers’ judgment of the country’s stability over the next five years improved somewhat in August, although it remained deeply entrenched in negative territory. In contrast, consumer’s willingness to buy big ticket-household items remained positive, albeit it deteriorated slightly from July.
Author: Almanas Stanapedis, Economist