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Financial decision-maker sentiment: Chile

An ongoing look at how the attitudes of financial decision makers in Chile are evolving during the COVID-19 pandemic.

Almost 100 percent of financial decision makers in Chile view the current economy as neutral or weak, and roughly half expect it to weaken in three months. Similarly, 75% of consumers describe their current financial situation as somewhat weak or weak, with only 18% expecting it to improve in the next 3 months. Almost 70% of consumers state having decreased household income, while only 38% have been able to decrease household spending. Roughly 40% of consumers believe their banks are performing below their expectations and would like reduced minimum payments on their credit cards. Financial decision makers are unsure about the economic conditions after the COVID-19 crisis, with almost 60% believing that the economy will be impacted for 6-12 months or longer and will stagnate or show slowed growth thereafter.

About the author(s)

John Euart is an associate in McKinsey’s New York office. Flore Moreno and Francisco Ramos are consultants in the Santiago office, where Ariel Waltuch is a partner.

The authors would like to thank Harshit Gupta for his contributions to this article.

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