Chile: Consumer confidence grows gloomier in June
The Adimark GfK consumer confidence index fell to 20.3 points in June, from 21.2 points in May, marking a new record low in the survey’s history. Thus, the index fell deeper below the critical 50-point threshold that separates pessimism from optimism among Chilean consumers.
June’s reading was driven by worse sentiment regarding current general economic conditions and personal financial conditions. In contrast, consumers grew slightly less gloomy regarding the economic outlook for the next year. Rock-bottom consumer sentiment bodes poorly for private consumption in Q2.