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Merchant confidence dropped to 2020 levels

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Merchant confidence dropped to 2020 levels

He Commercial Confidence Index (ICCO) stood at 12.7% in February, which was described by Fedesarrollo as an important drop.

(Consumer confidence fell slightly in February 2023).

The reduction was in 17.0 percentage points (pps) compared to the previous month when it was at 29.7%, while specifying that “this balance is the lowest since July 2020”.

The result is explained by the unfavorable perception of the current economic situation and for the next semester”, the study center said when commenting on the results. Fedesarrollo He added that another factor that has influenced the decrease is the increase in stock levels.

Regarding the performance of the Industrial Confidence Index (ICI)the monthly report indicates that in the second month of the year it stood at 4.2%. This translates into an increase of 0.6 pps compared to January 2023 (3.6%).

The positive monthly variation in the indicator is explained by the increase in the volume of orders and the reduction in the level of inventories”, indicated the institution.

(Business confidence improved in January 2023).

However, the expectations of industrialists in terms of production for the next quarter fell by 4.3 pps., as warned the director of Fedesarrollo, Luis Fernando Mejía.

Regarding the use of installed capacity in the industry in February, the data is 74.5%, 4.1 pps less compared to the November measurement (78.6%).

(Analysts downgrade their 2023 growth outlook.)

Regarding the use of installed capacity in the industry, the indicator for the second month of 2023 it was 74.5%, 4.1 pps less compared to the November measurement (78.6%).

Fedesarrollo explained that the construction sector registered a better perception in the current rhythm of expectations for the next quarter compared to the previous measurement. “It is important to highlight that the building category presented a significant recovery regarding the perception of investing currently and in the coming months of the year.”, the study center pointed out in its report on March 22.

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