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Chile: Consumer confidence jumps in December

Staff Writer |
The Adimark GfK consumer confidence index (IPEC, Índice de Percepción de la Economía) increased from 37.2 points in November to 40.1 points in December, marking the highest reading since February 2015.

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Despite the significant increase, the index remains below the 50-point threshold separating pessimism from optimism.

December’s rise was driven by a large improvement in consumers’ views of the country’s economic prospects over the next 12 months.

Consumers also became more optimistic regarding their personal economic situation, the country’s current economic situation and Chile’s economic stability over the next five years.

Consumers’ willingness to purchase household items was the only sub-category of the index which dropped in December.

Panelists participating in the LatinFocus Consensus Forecast expect total consumption to grow 2.2% in 2017, which is up 0.1 percentage points from last month’s forecast.

For 2018, the panel sees total consumption increasing 2.8%.

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