Chile: Consumers remain pessimistic in March
March 5, 2011
In March, the consumer confidence index, (IPEC, indice de Percepcion de la Economia) published by Adimark GfK eased slightly to 46.7 points, remaining virtually unchanged from 46.9 points in February. Moreover, consumer sentiment sits at nearly the same level as the year before, when the index plunged to 46.5 points after the February 2010 earthquake. At the current level, consumer sentiment remains below the 50-point threshold that separates optimism from pessimism for the second month in a row, which does not bode well for consumption in the coming months. Consumers were slightly less upbeat about the current economic outlook and also reported less willingness to make major purchases.