Chile: Business turn optimistic in January
The business confidence index (IMCE, Indicador Mensual de Confianza Empresarial) published by ICARE and the Universidad Adolfo Ibáñez inched up from 48.8 points in December to 50.7 in January, marginally above the crucial 50-point threshold that separates optimism from pessimism among business. The improvement was underpinned by better performances in three out of the four sectors included in the index.
The improvement benefited from a stronger confidence in the commercial sector, where sentiment grew more optimistic amid improved business environment and prospects of greater sales. Moreover, sentiment in the construction and industry sectors improved from a month earlier, although both remained in pessimistic territory and now sit just below the 50-point threshold. On the other hand, confidence in mining deteriorated to a 10-month low, despite staying in positive territory.