Chile, the Latin American country with the most confidence in its economy

Santiago de Chile, November 4 (EFE). – Chile is the country in Latin America where consumers have the most confidence in its economy, which is recovering in record time after the serious crisis caused by the pandemic, according to a survey conducted by the consultancy Ipsos.

The report “Global Confidence Index 2021” (CCI), which is based on the opinion of more than 21 thousand people in 28 countries, showed that the confidence of Chilean consumers rose 0.3 points compared to September and amounted to 46.9%, compared to 48.5% of the. global average.

This is the sixth straight increase since April, putting Chile 15th out of 28 economies measured, on the same level as Spain or Israel and above Latin American countries such as Mexico, Brazil, Argentina and Peru.

Despite the apparent upward trend, the consultancy warned that “the result obtained places Chile in a region where pessimism prevails over optimism in the economy (below 50 points)”.

“In a context marked by rising inflation, a gradual increase in the number of infections, and the fourth withdrawal processing of the AFP (Pension Fund Managers of Chile), the slight increase in the confidence of Chileans was mainly driven by a sense of increased employability and job stability, which was reflected in a 1.6 point increase In the sub-work index”, explained the national director of Ipsos, Jorge Lopez.

On the other hand, he added, “the sense of purchasing and investment power is declining, as its index decreased by 0.5 points.”

The Chilean economy contracted 5.8% in 2020 – the worst decline in four decades – and lost nearly two million jobs due to the pandemic, but it is recovering in record time and grew by 15.6% in September compared to the same period last year.

The central bank, which is ramping up withdrawal of monetary stimulus due to improvement in the economy and inflationary risks, estimates Chilean GDP growth for this year between 10.5% and 11.5%.

For its part, China continues to lead the ranking, with an index of 72%, followed by Saudi Arabia (64.3%), Sweden (60.2%), and Turkey at the bottom of the list, with a share of 28.9%.

Another noteworthy aspect of the report is the new drop in confidence in the US (-0.8%), which is experiencing its third consecutive decline, although it is still in fourth place at 58.2%. EFE

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