Chile: Consumer confidence drops in June
July 6, 2011
In June, the consumer confidence index, (IPEC, indice de Percepcion de la Economia) produced by Adimark GfK fell to 44.1 points from 47.2 points in May. That said, consumer sentiment dropped 3.8 points from the level registered in the same month the year before, when the index stood at 47.9 points. With the June drop, consumer sentiment moved further below the 50-point threshold that separates optimism from pessimism, which does not bode well for consumption in the coming months. The deterioration was broad-based as all subcategories deteriorated over the previous month. Consumers were pessimistic about the current national economic outlook. In addition, respondents reported a lower willingness to make major purchases.