Chile Economic Activity June 2016


Economic activity lackluster in June

In June, economic activity rose a meagre 0.8% over the same month last year, according to the monthly indicator for economic activity (IMACEC). The figure marked a slowdown over May’s 1.9% expansion. According to the Central Bank, June’s subdued expansion mainly reflected that growth in services and commerce more than offset a steep drop in mining and weakness in the industrial sector.

On a monthly basis, economic activity in June rose 0.2% in seasonally-adjusted terms, which came in below May’s 0.7% increase. Annual average growth in economic activity fell from 1.8% in May to 1.6% in June.

Panelists participating in the LatinFocus Consensus Forecast see the economy growing 1.8% in 2016, which is unchanged from last month’s forecast. For 2017, the panel expects the economy to pick up the pace and expand 2.3%.

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Chile Economic Activity Chart

Chile Economic Activity June 2016 0

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

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