Chile Economic Activity


Economic activity accelerates in June

In June, economic activity rose 2.7% over the same month last year, according to the monthly indicator for economic activity (IMACEC). The figure came in above the 0.8% increase tallied in May and overshot market expectations of a 2.4% expansion. According to the Central Bank, June’s expansion reflected increases in manufacturing as well as mining.

On a monthly basis, economic activity in June grew 1.1% on a seasonally-adjusted basis, which was above May’s 0.1% expansion. As a consequence, annual average growth in economic activity inched up from May’s 1.6% to 1.7% in June.

LatinFocus Consensus Forecast panelists see the economy growing 2.8% in 2015, which is unchanged from last month’s forecast. For 2016, the panel expects the economy to pick up the pace and expand 3.5%.

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Chile Economic Activity Chart

Chile Economic Activity June 2015

Note: Year-on-year changes and annual average growth rate in %.
Source: Chile Central Bank (BCC) and FocusEconomics calculations.

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