Chile Economic Activity December 2016

Chile

Chile: Economic activity rises in December

Economic activity in Chile rose 1.2% in December compared to the same month of the previous year, according to the Monthly Indicator for Economic Activity (IMACEC). December’s reading was up from the 0.8% expansion observed in November and beat market expectations of a 1.1% rise, although the increase remains low compared to the average over recent years. According to the Central Bank, contractions in the mining and manufacturing sectors were more than offset by growth in the services and commercial sectors.

On a monthly basis, economic activity in December grew 0.9% in seasonally-adjusted terms, an improvement from November’s 0.7% rise and marking the largest month-on-month increase since December 2015. However, the overall trend continued to decline in December, with annual average growth in economic activity dipping to 1.5% from 1.6% in November.

The Central Bank sees GDP expanding between 1.5% and 2.5% in 2017. Panelists participating in the LatinFocus Consensus Forecast see the economy growing 2.1% in 2017, which is unchanged from last month’s forecast. For 2018, the panel expects the economy to pick up speed and expand 2.5%.


Author:, Economist

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Chile Economic Activity Chart


Chile Economic Activity December 2016

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


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