Chile Economic Activity April 2016


Economic activity slows in April

In April, economic activity rose 0.7% over the same month last year, according to the monthly indicator for economic activity (IMACEC). The figure marked the slowest expansion in six months and a notable deceleration compared to March’s 2.2% increase. According to the Central Bank, April’s modest expansion mainly reflected that growth in services and retail sales partly offset weakness in mining, industry and wholesale trade.

On a monthly basis, economic activity in April fell 1.3% on a seasonally-adjusted basis, which came in below March’s flat reading. Annual average growth in economic activity edged down from 1.9% in March to 1.7% in April.

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 2.5%.

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Chile Economic Activity Chart

Chile Economic Activity April 2016

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

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