Chile: Consumers less confident in March
April 10, 2014
In March, the Adimark GfK consumer confidence index (IPEC, Indice de Percepcion de la Economia) inched down from February's 54.3 points to 53.4 points. Despite the slight decrease, 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' assessment of their personal economic situation as well as their views regarding the country's economic situation in the next five years deteriorated compared to February. Conversely, consumers' views on the country's current economic situation improved compared to the previous month. 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 growing at the same 4.5% rhythm.
Author: Dirina Mançellari, Senior Economist