Chilean Business Confidence July 2022

Business confidence came in at 39.0 in July, down from 42.7 in June. The July result was the worst reading since July 2020. Thus, the index remained below the 50-point threshold, indicating continued pessimism among companies.

The July fall was driven by a widespread deterioration across all sub-components. Confidence in the industrial sector and in retail trade has fallen the most. Currently, all four major sectors – mining, construction, industry and retail – are in pessimistic territory.

Committee members surveyed for this month’s LatinFocus report expected a 0.4% decline in fixed investment in 2022, which is a 0.4 percentage point drop from last month’s forecast. In 2023, they expect fixed investment to decline by 0.8%.

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