Chile: Consumer confidence improves in September
October 10, 2013
The Adimark GfK consumer confidence index (IPEC, Indice de Percepcion de la Economia) increased from 50.4 points in August to 54.6 points in September, marking the highest level in four months. As a result, consumer confidence rose further above the 50-point threshold separating optimism from pessimism.
The improvement was broad-based; consumers were more optimistic about the overall economy compared to the previous month. The highest increase was seen in households' sentiment regarding their current personal economic situation, which rose 6.0 points over August and marked the highest level in five months. In addition, consumers' view regarding the country's current economic situation improved over the previous month, increasing by 5.1 points
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%, which is unchanged from last month's projection.
Author: Dirina Mançellari, Senior Economist