ARGENTINA, BRAZIL, CHILE, COLOMBIA, MEXICO, PERU

LATAM PULSE
MAY 2025
1. PRESIDENTIAL APPROVAL
2. POLITICAL RISK
3. CONSUMER CONFIDENCE
4. INFLATION EXPECTATIONS
5. GLOBAL TRADE TENSIONS
LATAM PULSE MAY 2025
SUMMARY

Indexes Summary

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LATAM PULSE MAY 2025
SUMMARY

About Latam Pulse

Latam Pulse is a collaborative initiative by The Latam Pulse report is composed of
two modules. The permanent module
This flexible approach allows Latam Pulse
to contextualize critical shifts within Latin
AtlasIntel and Bloomberg, providing monthly features key indicators essential for American countries, comparing these
tracking and analyzing trends over time, trends to uncover regional patterns and
data on the political, social, and economic including presidential approval ratings, unique national developments.

landscapes of five key Latin American government evaluation, AtlasIntel’s

Political Risk Index, Social Polarization Leveraging Bloomberg’s reach and
countries: Argentina, Brazil, Chile, Colombia, Index, Consumer Confidence Index (CCI), AtlasIntel’s precision, Latam Pulse
represents a commitment to delivering
Inflation Index, and Economic Liberalism
Peru and Mexico. Index. Together, these indicators offer a accurate, high-frequency insights with
consistent view of the region’s structural relevance and depth. The partnership
and emerging dynamics, informing draws on Bloomberg’s extensive media
stakeholders on the trajectory of influence and AtlasIntel’s advanced
governance, economic sentiment, and analytical capabilities to offer an
social cohesion across countries. unparalleled source of intelligence for
those engaged in Latin American markets,
The variable module addresses relevant policy, and social analysis.
and timely topics each month, adapting
its focus to capture region-specific trends
and emerging challenges.

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LATAM PULSE MAY 2025
SUMMARY

Indicators
APPROVAL RATINGS POLITICAL RISK KEY ISSUES
Comparative approval and disapproval Potential for political turmoil in each Evolution of the public opinion on key
ratings of Latin American presidents country based on a 3-dimension index issues anchoring political and public
and the image of major political leaders. that looks at institutional instability, policy debates in each country.
social protest, and the prevalence of
violent crime.

INFLATION CONSUMER CONFIDENCE ECONOMIC LIBERALISM

Perceptions on the current level of Consumer assessment of the current The pulse of the population on the role
prices and the evolution of inflation and future state of the economy, family of the state in the economy, economic
over the next year. spending, and job market. competition, price setting, deregulation,
and taxes.
LATAM PULSE MAY 2025
SUMMARY

Methodology: Atlas RDR

Atlas Random Digital Recruitment [RDR] is a The method seeks to address sources of
bias and possible over-or
Compared to telephone surveys based on
Random Digit Dialing (RDD), the RDR
methodology developed by AtlasIntel to underrepresentation of specific method allows for granular mapping of
demographic groups. non-response patterns, so that biases
calibrate robust samples, representative of arising from variable non-response rates
Respondents are recruited organically
the target population. during routine web browsing in geolocated
can be adequately addressed during the
process of building each sample.
territories on any device (smartphones,
tablets, laptops or PCs). To ensure representativeness at the
national level, the AtlasIntel samples are
Compared to face-to-face surveys, RDR post-stratified using an iterative algorithm
avoids the possible psychological impact of on a minimum set of target variables:
human interaction on the respondent at the gender, age group, education level, income
time of the interview: the respondent can level, region, and previous electoral
answer the questionnaire under conditions behavior. The samples resulting from the
of full anonymity, without fear of causing a post-stratification process match the
negative impression to the interviewer or profile of the US adult population and that
to people who may eventually be listening of likely voters.
to the answers shared during the interview.

5
LATAM PULSE MAY 2025
SUMMARY

Sample Profiles Summary

METHODOLOGY SAMPLE SIZE MARGIN OF ERROR POLLING PERIOD

Argentina Atlas RDR 2,031 ±2 p.p. 05/21/2025 - 05/26/2025

Brazil Atlas RDR 4,399 ±1 p.p. 05/19/2025 - 05/23/2025

Chile Atlas RDR 2,139 ±2 p.p. 05/21/2025 - 05/26/2025

Colombia Atlas RDR 2,447 ±2 p.p. 05/21/2025 - 05/26/2025

Mexico Atlas RDR 1,898 ±2 p.p. 05/19/2025 - 05/23/2025

Peru Atlas RDR 2.198 ±2 p.p. 05/21/2025 - 05/26/2025

LATAM PULSE MAY 2025

1 Presidential Approval
LATAM PULSE MAY 2025
PRESIDENTIAL AND GOVERNMENT APPROVAL

Government performance in Latin

America
Presidential approval Government evaluation

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LATAM PULSE MAY 2025
PRESIDENTIAL AND GOVERNMENT APPROVAL

Presidential approval
[time series]

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LATAM PULSE MAY 2025

2 Political Risk
LATAM PULSE MAY 2025
POLITICAL RISK

Political Risk Index

Atlas-PRI: Definition
The Political Risk Index is designed to assess the stability and
predictability of a political environment.
It captures the underlying vulnerabilities that might disrupt governance, weaken institutions,
and increase uncertainty for decision-makers. The index uses a 0-100 scale, where 0
represents no risk at all, indicating a stable and secure environment, and 100 indicates the
highest level of risk, suggesting imminent danger of political instability or breakdown. The
Political Risk Index is composed of three key indicators:

Institutional Instability
Institutional stability reflects the resilience and reliability of a country’s political and legal
frameworks. It measures the effectiveness of governance, the independence and functionality
of public institutions, and the predictability of political processes.

Social Strife
The social strife indicator gauges the frequency, intensity, and spread of protests, strikes, civil
unrest, and mass mobilizations. It highlights the population’s trust—or lack thereof—in the
political system to address grievances.

Criminality and Corruption

The crime perception indicator measures the prevalence and intensity of organized crime,
corruption, and violent crime. It reflects the capacity of the state to enforce public order and
secure property rights.

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LATAM PULSE MAY 2025
POLITICAL RISK

Political Risk Index

Atlas-PRI: Cross-Country Comparison
Argentina Brazil Chile

Colombia Mexico Peru

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LATAM PULSE MAY 2025
POLITICAL RISK

Political Risk Index

Atlas-PRI: Time series

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LATAM PULSE MAY 2025

Consumer
3
Confidence
LATAM PULSE MAY 2025
CONSUMER CONFIDENCE

Consumer Confidence Index

Atlas-CCI
ASSESSMENT OF THE CURRENT SITUATION (CSI - CURRENT SITUATION INDEX)
The Consumer Confidence Index (CCI) is represented by the arithmetic
mean of the seven standardized indicators that make up both the
Current Situation Index (CSI) and Expectations Index (EI). The CSI is
1 Current Local Economic Situation

calculated by the mean of standardized indicators that reflect

perceptions of the present situation. 2 Current Financial Situation of Households

The EI is calculated by the mean of standardized indicators that

address expectations for the near future (six months). Scores above
3 Current Labor Market Situation

100 points will be considered favorable (satisfaction or optimism);

scores below 100 points, unfavorable (dissatisfaction or pessimism). PREDICTIONS FOR THE NEAR FUTURE (EI - EXPECTATIONS INDEX)

4 Future Local Economic Situation

5 Future Financial Situation of Households

6 Future Labor Market Situation

7 Expected Expenditures on Durable Goods

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LATAM PULSE MAY 2025
CONSUMER CONFIDENCE

Consumer Confidence Index

Atlas-CCI: Time Series

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LATAM PULSE MAY 2025
CONSUMER CONFIDENCE

Consumer Confidence Index

Atlas-CCI: Cross-Country Comparison

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LATAM PULSE MAY 2025

4 Inflation
LATAM PULSE MAY 2025
INFLATION EXPECTATION

Consumer Price Indexes

Atlas-CPI
INDEXES
The inflation indexes (current and expected) are calculated from
respondents' answers about how they perceive inflation and how they
think it will evolve. The current index reflects respondents' perception of 1 Current Inflation
inflation experienced over the past six months, capturing the impact of
recent price changes on everyday life.
2 Expected Inflation
The expected index measures respondents' expectations for inflation
over the next six months, providing insights into how the population
anticipates price trends in the near future. These indicators help
understand public sentiment regarding inflation, complementing official
data and offering insights into people's confidence in economic
stability.

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INFLATION EXPECTATION

Current & Expected Inflation

Atlas-CPI-CI | Atlas-CPI-EI

Atlas CPI-CI Atlas CPI-EI

Current Inflation Expected Inflation
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LATAM PULSE MAY 2025

5 Global Trade Tensions

LATAM PULSE MAY 2025
GLOBAL TRADE TENSIONS

Argentinians, Chileans, and Colombians prefer to align with the United States, while
China is the top choice for Mexicans and Peruvians. In Brazil, the BRICS are the first
option, followed by the US

Do you think your country should align more closely with:

LATAM PULSE MAY 2025
GLOBAL TRADE TENSIONS

While Mexico and Colombia see the U.S. as the more influential actor in their
economy, Brazil, Peru, and Chile point towards China

In your opinion, which country has a more significant economic influence in your country?
LATAM PULSE MAY 2025
GLOBAL TRADE TENSIONS

Sentiment across Latin America shows widespread concern over the US-China
trade dispute, with Chileans the most worried, followed by Peruvians

-77 pp

-51 pp

-44 pp

-36 pp

-32 pp

-27 pp

How concerned are you about the ongoing economic rivalry and trade dispute between
China and the United States?
LATAM PULSE MAY 2025
GLOBAL TRADE TENSIONS

In Latin America, most believe the U.S.-China conflict significantly affects their
economy — particularly in Chile, Colombia, Peru and Mexico

-56 pp

-52 pp

-54 pp

-43 pp

-40 pp

-31 pp

In your opinion, to what extent can the conflict between China and the United States affect
your country’s economy?
LATAM PULSE MAY 2025
GLOBAL TRADE TENSIONS

Widespread sentiment in Latin America holds that both the U.S. and China benefit more
from trade and investment with their countries
United States China
-55 pp -43 pp

-66 pp -60 pp

-46 pp -43 pp

-49 pp -43 pp

-47 pp -35 pp

-53 pp -46 pp

What do you think about the trade and investment relations between your country and What do you think about the trade and investment relations between your country
the United States? and China? 26
LATAM PULSE MAY 2025
GLOBAL TRADE TENSIONS

Peru, Chile, and Brazil clearly see China providing better investment opportunities,
while Argentina, Colombia, and Mexico show a more balanced view between China
and the U.S.

Which country do you believe provides better financial investment opportunities in your
country?
LATAM PULSE MAY 2025
GLOBAL TRADE TENSIONS

Chinese investments in infrastructure widely seen as more beneficial across

Latin America than those from the U.S.
United States China
+13 pp +42 pp

+20 pp +36 pp

+12 pp +41 pp

+17 pp +36 pp

+3 pp +37 pp

+6 pp +17 pp

How do you perceive the United States' investments in your country's infrastructure How do you perceive China's investments in your country's infrastructure projects
projects (e.g., roads, ports, energy)? (e.g., roads, ports, energy)? 28
LATAM PULSE MAY 2025
GLOBAL TRADE TENSIONS

Perceptions point to a growing economic reliance on China, particularly in Brazil,

while Argentina indicates more dependence on the U.S.
United States China
+50 pp +13 pp

-2 pp -17 pp

-4 pp -29 pp

-17 pp -54 pp

-12 pp -40 pp

-53 pp -42 pp

Do you think your country's economy has become more dependent on the United States Do you think your country's economy has become more dependent on China in
in recent years? recent years? 29
LATAM PULSE MAY 2025
GLOBAL TRADE TENSIONS

Latin Americans show a slight preference for Chinese debt financing over the
U.S., though concerns about its risks remain strong
United States China

How do you perceive the United States’ role in Latin America's debt financing (e.g., loans How do you perceive the China’s role in Latin America's debt financing (e.g., loans
to governments and businesses)? to governments and businesses)? 30
LATAM PULSE MAY 2025

6 Sample profiles
LATAM PULSE MAY 2025
SAMPLE PROFILES

Sample Profile: Argentina

TARGET POPULATION GENDER

Argentine adult population Female 53.6%

Male 46.4%
SAMPLE SIZE

2,031 respondents AGE

16-24 12.9%
METHODOLOGY
25-34 21.8%
Random Digital Recruitment (Atlas RDR) 35-44 21.2%
MARGIN OF ERROR 45-59 23.7%
±2 p.p. 60-100 20.3%

CONFIDENCE LEVEL FOR ESTIMATION OF MARGIN OF ERROR EDUCATIONAL LEVEL

95% Primary education 16.9%
Secondary Education 45.0%
POLLING PERIOD
College degree or higher 38.1%
05/21/2025-05/26/2025
FAMILY INCOME
Below $100.000 20.5%
$100.000 - $150.000 13.7%
$150.000 - $200.000 14.8%
$200.000 - $350.000 25.1%
Above $500.000 9.2%
$350.000 - $500.000 16.7%
LATAM PULSE MAY 2025
SAMPLE PROFILES

Sample Profile: Brazil

TARGET POPULATION GENDER

Brazilian adult population Female 53.8%

Male 46.2%
SAMPLE SIZE

4,399 respondents AGE

16-24 11.7%
METHODOLOGY
25-34 19.2%
Random Digital Recruitment (Atlas RDR) 35-44 21.2%
MARGIN OF ERROR 45-59 27.9%
±1 p.p. 60-100 20.0%

CONFIDENCE LEVEL FOR ESTIMATION OF MARGIN OF ERROR EDUCATIONAL LEVEL

95% Primary education 32.0%
Secondary education 44.2%
POLLING PERIOD
College degree or higher 23.8%
05/19/2025-05/23/2025
RENDA FAMILIAR MENSAL
Below R$ 2.000 29.9%
R$ 2.000 a R$3.000 19.9%
R$ 3.000 a R$5.000 23.0%
R$ 5.000 a R$10.000 17.8%
Above R$ 10.000 9.4%
LATAM PULSE MAY 2025
SAMPLE PROFILES

Sample Profile: Chile

TARGET POPULATION GENDER

Chilean adult population Female 52.4%

Male 47.6%
SAMPLE SIZE

2,139 respondents AGE

16-24 11.7%
METHODOLOGY
25-34 20.5%
Random Digital Recruitment (Atlas RDR) 35-44 20.6%
MARGIN OF ERROR 45-59 22.6%
±2 p.p. 60-100 24.6%

CONFIDENCE LEVEL FOR ESTIMATION OF MARGIN OF ERROR EDUCATIONAL LEVEL

95% Primary education 13.3%
Secondary education 44.6%
POLLING PERIOD
College degree or higher 42.1%
05/21/2025-05/26/2025
FAMILY INCOME
Below $400.000 17.6%
$400.000 - $600.000 21.6%
$600.000 - $1.000.000 28.2%
$ 1.000.000 - $ 2.000.000 20.7%
Above $2.000.000 12.0%
LATAM PULSE MAY 2025
SAMPLE PROFILES

Sample Profile: Colombia

TARGET POPULATION GENDER

Colombian adult population Female 53.0%

Male 47.0%
SAMPLE SIZE

2,447 respondents AGE

18-24 14.0%
METHODOLOGY
25-34 18.0%
Random Digital Recruitment (Atlas RDR) 35-44 20.4%
MARGIN OF ERROR 45-59 26.6%
±2 p.p. 60-100 21.1%

CONFIDENCE LEVEL FOR ESTIMATION OF MARGIN OF ERROR EDUCATIONAL LEVEL

95% Primary or secondary education 64.5%
College degree or higher 35.5%
POLLING PERIOD

05/21/2025-05/26/2025 FAMILY INCOME

Below $ 400.000 11.0%
$ 400.000 - $ 900.000 19.0%
$ 900.000 - $ 2.000.000 36.0%
$ 2.000.000 - $ 4.000.000 23.0%
Above $ 4.000.000 11.0%
LATAM PULSE MAY 2025
SAMPLE PROFILES

Sample Profile: Mexico

TARGET POPULATION GENDER

Mexican adult population Female 50.4%

Male 49.6%
SAMPLE SIZE

1,898 respondents AGE

18-24 12.9%
METHODOLOGY
25-34 18.9%
Random Digital Recruitment (Atlas RDR) 35-44 19.7%
MARGIN OF ERROR 45-59 28.8%
±2 p.p. 60-100 19.7%

CONFIDENCE LEVEL FOR ESTIMATION OF MARGIN OF ERROR EDUCATIONAL LEVEL

95% Primary education 20.0%
Secondary education 38.7%
POLLING PERIOD
Preparatory or technical 21.0%
05/19/2025-05/23/2025
Bachelor’s or postgraduate 20.3%

FAMILY INCOME
Below $10,000 pesos 46.2%
10,000 - 15,000 pesos 25.2%
15,000 - 25,000 pesos 16.0%
25,000 - 50,000 pesos 8.6%
Above $50,000 pesos 4.0%
LATAM PULSE MAY 2025
SAMPLE PROFILES

Sample Profile: Peru

TARGET POPULATION GENDER

Peruvian adult population Female 52.3%

Male 47.7%
SAMPLE SIZE

2,198 respondents AGE

16-24 13.8%
METHODOLOGY
25-34 20.5%
Random Digital Recruitment (Atlas RDR) 35-44 19.2%
MARGIN OF ERROR 45-59 25.9%
±2 p.p. 60-100 20.7%

CONFIDENCE LEVEL FOR ESTIMATION OF MARGIN OF ERROR EDUCATIONAL LEVEL

95% Primary education 21.9%
Secondary education 33.8%
POLLING PERIOD
Bachelor’s or postgraduate 44.3%
05/21/2025-05/26/2025
FAMILY INCOME
Below $2,000 soles 57.8%
2,001 - 3,000 soles 14.0%
3,001 - 4,000 soles 9.5%
4,001 - 5,000 soles 2.7%
Above $5,000 soles 16.0%