Chile: Consumers more optimistic in November
December 11, 2013
In November, the Adimark GfK consumer confidence index (IPEC, Indice de Percepcion de la Economia) inched up from 54.0 points in October to 55.9 points. The figure marked the highest value in seven months. Consumer confidence now rests even higher above the 50-point threshold separating optimism from pessimism.
An improvement was recorded in most of the components of the index. Consumers' views regarding the overall economic situation and their personal finances both improved over the previous month. In addition, their assessment of the country's economic situation in the next five years reached aneight-month high. Conversely, consumers' outlook on the economy for the next 12 months deteriorated compared to the previous month (November: 60.2 points; October: 61.0 points).
LatinFocus Consensus Forecast participants expect total consumption to grow 5.5% this year, which is up 0.1 percentage points from last month's forecast. For 2014, the panel sees total consumption expanding 4.7%, which is down 0.1 percentage points from last month's projection.
Author: Dirina Mançellari, Senior Economist