Chile: Consumer confidence falls to lowest level in a year in July
August 15, 2013
The Adimark GfK consumer confidence index (IPEC, Indice de Percepcion de la Economia) dropped from 53.0 points in June to 50.7 points in July, reaching its lowest level in a year. As a result, confidence among consumers is just slightly above the 50-point threshold separating optimism from pessimism.
The contraction was broad-based, with consumer confidence falling across the board in July. The worst contraction was seen in consumer sentiment regarding the country's five year economic outlook, which fell 5.8 points over the previous month's reading and marked the lowest level in 18 months. Households' view on their current personal situations experienced the mildest drop, falling just 0.5 points over the pervious month.
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%.