Chile Economic Activity


Economic activity slows down in August

In August, economic activity expanded 4.1% over the same month last year according to the monthly indicator for economic activity (IMACEC). The reading was below the 5.3% increase recorded in the previous month and overshot market expectations of a 3.8% expansion. According to the Central Bank, the monthly result reflected, "dynamism of mining and trade activities."

On a monthly basis, economic activity increased 0.68%, marking an improvement over the virtually flat reading recorded in July. Moreover, annual average growth in economic activity edged down from 4.9% in July to 4.7% in August.

The Central Bank indicated in its September Monetary Policy Report that it expects economic growth to range between 4.0% and 4.5% in 2013 and in 2014. LatinFocus Consensus Forecast panelists see the economy growing 4.8% this year, which is up 0.1 percentage points from last month's forecast. For 2014, the panel expects the economy to expand 4.8%, which is down 0.1 percentage points from last month's projection

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Chile Economic Activity Chart

Chile Economic Activity August 2013

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

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