Chile Economic Outlook
March 14, 2017
Chile’s economic panorama over the last month has been dominated by the ongoing strike over pay and conditions at the country’s largest mine, with talks between workers and BHP Billiton, the mine’s operator, still at an impasse. The strike has halted all activity at the mine since 9 February, causing a significant dent in the country’s copper exports, the mainstay of the economy. The country’s treasury minister recently announced that economic activity in February is likely to have taken a large hit as a result, reversing the upward trend in the growth rate of the monthly economic activity indicator observed in recent months. This bad news comes amid an already gloomy economic environment, with business and consumer confidence remaining stuck in negative territory in February and growth in the final quarter of last year likely to have been meagre as a result of subdued investment.Chile Economy Data
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Chile Economic Growth
March 14, 2017
Growth should increase slightly this year thanks to higher copper prices, while the Central Bank’s looser monetary policy stance should also help prop up the economy. However, continuing subdued consumer and business confidence mean growth will remain modest. FocusEconomics Consensus Forecast panelists see Chile’s economy expanding 1.9% this year, down 0.1 percentage points from last month’s forecast. The panel predicts growth of 2.5% for 2018.Chile Economic News
Chile: Business confidence declines in March
April 6, 2017
The business confidence index (IMCE, Indicador Mensual de Confianza Empresarial) published by ICARE and the Universidad Adolfo Ibáñez fell from 46.0 points in February to 45.1 points in March, putting paid to three consecutive monthly increases.
Chile: Economic activity drops in February
April 5, 2017
Economic activity in Chile declined for only the second time in recent years in February, dropping an annual 1.3% according to the Monthly Indicator for Economic Activity (IMACEC) published by Chile’s Central Bank.
Chile: Central Bank trims rates in March
April 1, 2017
At its 16 March policy meeting, the Central Bank of Chile (BCC) decided to reduce the policy rate by 25 basis points, from 3.25% to 3.00%, matching markets’ expectations.
Chile: Copper prices lose ground in March
April 1, 2017
Copper prices dipped slightly in March, building on the modest price increase seen in the previous month.
Chile: Chile’s economy suffers a sharp slowdown in Q4
March 28, 2017
Chile’s economy stuttered in the final quarter of last year, weighed down by pessimistic business and consumer sentiment, a poor performance from the mining sector and a sharp fall in fixed investment.
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