Chile: Consumers less confident in January
February 10, 2014
In January, the Adimark GfK consumer confidence index (IPEC, Indice de Percepcion de la Economia) inched down from December's 56.6 points to 54.6 points. Despite the drop, consumer confidence is still above the 50-point threshold separating optimism from pessimism.
Most of the components of the index deteriorated compared to the previous month. Consumers' views on the country's current economic situation reached a three-month low. Consumers' assessment of the country's economic situation in the next five years, as well as their views regarding personal finances, also deteriorated compared to December.
LatinFocus Consensus Forecast participants expect total consumption to grow 4.5% in 2014, which is down 0.2 percentage points from last month's forecast. For 2015, the panel sees total consumption expanding 4.5%.
Author: Dirina Mançellari, Senior Economist