Chile Economic Outlook
October 11, 2016The Chilean government presented a tight 2017 budget proposal in September, planning the smallest public spending increase in 14 years. The government’s decision to maintain fiscal prudence instead of providing fiscal stimulus to revive the sluggish economy will likely further undermine President Michelle Bachelet’s popularity, which sank to another record low in August. Despite keeping a lid on spending, the government expects the fiscal deficit to widen slightly to 3.3% of GDP next year. In Q3, the economy likely remained on a weak footing, following Q2’s deceleration. Consumer confidence stayed depressed in August and copper prices resumed their decline in August and September. Cautiously positive signs come from August’s recovery in economic activity and industrial production, following July’s notable slumps, and the gradual improvement in business sentiment from July to September.
Chile Economy Data
5 years of Chile economic forecasts for more than 30 economic indicators.
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|Bond Yield||4.19||0.24 %||Oct 24|
|Exchange Rate||658.9||-1.17 %||Oct 24|
|Stock Market||21,348||0.38 %||Oct 24|
Chile Economic Growth
October 11, 2016The economy of the world’s top copper producer will continue to be restrained by low prices for its key export product as well as muted business and consumer sentiment. FocusEconomics Consensus Forecast panelists see Chile’s economy expanding at a moderate pace of 1.7% this year, which is unchanged from last month’s projections. For next year, they project an uptick to 2.2% growth.
Chile Economic News
October 12, 2016
In September, the Adimark GfK consumer confidence index (IPEC, Índice de Percepción de la Economía) rose slightly, inching up from August’s record-low of 31.5 points to 33.4 points.
October 7, 2016
In September, consumer prices rose 0.2% over the previous month, which came in above August’s flat reading.
October 6, 2016
In Q3, the mood among Chilean businesses improved and reached the highest level in a year.
October 5, 2016
For a third consecutive month, the mood among Chilean businesses improved in September after it had fallen to the lowest level in over seven years in June.
October 5, 2016
In August, economic activity rose 2.5% over the same month last year, according to the monthly indicator for economic activity (IMACEC).