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Saturday, July 21, 2012

Outlook versus attitude

I just returned from a short trip to my natal Chile where I travel quite often.

News are generally good there, for example, since 2009, the peak of the crisis, a new report shows poverty has declined from 15.1 to 14.4%... Surely the levels are nothing to cheer for, but the trend and the timing matter. The best news is that extreme poverty dropped from 3.7% to 2.9%.

Furthermore, construction is up 11% this year alone (April). Recently, Chile was rated by IESE as the best country in Latin America for private equity and venture capital.

Yet, Chilean consumers don't seem to be too optimistic... Go figure

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