Chile: Consumer confidence drops to eight-month low in June
July 19, 2013
The Adimark GfK consumer confidence index (IPEC, Indice de Percepcion de la Economia) dropped from 55.2 points in May to 53.0 points in June, reaching its lowest level in eight months. Despite the fall, confidence among consumers remains slightly above the 50-point threshold separating optimism from pessimism.
The contraction was broad-based - almost all sub-indicators experienced falls compared to the previous month. The only exception was in the respondents' perception of their current personal situations, which exhibited an improvement compared to May. In the survey, respondents expressed a more pessimistic outlook on the country's current condition. In addition, consumers voiced a worse assessment of the economic outlook for the next five years, which reached the lowest level in six months.
LatinFocus Consensus Forecast participants expect total consumption to grow 5.3% this year, which is down 0.1 percentage points from last month's forecast. For 2014, the panel sees total consumption expanding 4.9%.