Chile Consumer & Retail Q1 2020
We have revised our private consumption forecast to 3.0% real growth for 2020, down from 3.2% previously, on the backof our economic outlook revisions. Chile's economy is still under pressure due to the ongoing US-China trade war, which isweighing on commodity prices - particular copper - on which Chile's economy is particularly dependent. Chile has alsorecently succumbed to a wave of anti-government protests which have significantly damaged retail outlets and caused temporaryclosures. While we expect to see the protests dissipate in 2020, we believe that Chile’s short-term outlook has darkened.
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