Fedesarrollo's March business opinion survey showed the commercial confidence index at 22.8%, up 0.2 percentage points from February, thanks to reduced inventories. In contrast, the industrial confidence index fell 3.2 points into negative territory amid lower production expectations.
Fedesarrollo's March business opinion survey placed the commercial confidence index (ICCO) at 22.8%, a 0.2 percentage point increase from February. The rise stemmed mainly from lower inventory levels among merchants, though their economic expectations for the next semester dipped 0.2%.
Compared to March 2025, the ICCO rose 1%, driven by improved perceptions of businesses' current economic situation.
Meanwhile, the industrial confidence index (ICI) declined 3.2 percentage points from the prior month, turning negative. Orders rose 3.9%, but the drop was due to an 8.5% fall in production expectations and a 4.8% increase in inventories.
Looking ahead to the next quarter, 75.8% of industrial firms plan to keep staffing steady, 7.4% to expand, and 16.8% to cut. The employment balance improved 9.2% from end-2025 to -9.4%, yet remains below March 2025 levels. On contraband, the balance reached 4.2%, with 60.1% of respondents saying it stayed the same in early 2026.
