Chile: Consumer sentiment plummets to an all-time low in March as Covid-19 bites
The Adimark GfK consumer confidence index fell to 27.8 points in March, from 32.7 points in February, marking the lowest print in the survey’s history. Thus, the index fell deeper below the critical 50-point threshold that separates pessimism from optimism among Chilean consumers.
March’s print reflected an across-the-board deterioration in all five subcomponents of the index, with all of them falling deeper into pessimistic territory. Consumers’ willingness to purchase big-ticket household items was the most affected, amid the lockdown measures imposed to contain the spread of Covid-19. Meanwhile, their perception of the current situation of the country fell, as well as their general economic expectations in the next 12 months. Lastly, households grew more pessimistic towards the stability of the country in the next five years.