In the third quarter, gross domestic product (GDP) expanded a strong 7.0% over the same quarter last year. The figure was above the 6.6% expansion recorded in the second quarter and was broadly in line with last month's LatinFocus Consensus Forecast of a 7.1% increase. The figure marked, in fact, the strongest expansion in five years. The improvement over the previous quarter reflected stronger domestic demand and a higher contribution from the external sector. Total consumption accelerated from a 9.3% increase in the second quarter to a 10.3% expansion in the third, fuelled by an improvement in private consumption (Q2: +10.7% year-on-year; Q3: +11.9% yoy). In particular of non-durable goods and services grew at a resilient rhythm. In contrast, gross fixed investment decelerated from a robust 29.3% expansion in the second quarter to an 18.5% expansion in the third. As a result, domestic demand eased slightly in the third quarter, expanding 18.2% annually (Q2: +19.9% yoy). In addition, the net contribution from the external sector to overall growth improved. Exports of goods and services improved from a 0.8% annual increase in the second quarter to an 8.0% expansion in the third. Meanwhile, imports decelerated slightly, expanding 34.4% in the third quarter (Q2: +34.9% yoy). As a result, the net contribution from the external sector to overall economic growth improved from a 14.2 percentage-point detraction in the second quarter to minus 12.6 percentage points in the third. At the sector level, the improvement was broad-based, as industry and services expanded at a faster clip than in the second quarter. Only agriculture decelerated compared to the previous quarter. A quarter-on-quarter comparison corroborates the resilient growth suggested by the annual figures. According to seasonally adjusted figures, the economy expanded a 1.96% over the previous quarter. The Central Bank expects economic growth to range between 5.0%-5.5% this year and 5.5%-6.5% in 2011.
Economy expands at robust pace in Q3
November 18, 2010
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Chile Economic News
October 12, 2016
In September, the Adimark GfK consumer confidence index (IPEC, Índice de Percepción de la Economía) rose slightly, inching up from August’s record-low of 31.5 points to 33.4 points.
October 7, 2016
In September, consumer prices rose 0.2% over the previous month, which came in above August’s flat reading.
October 6, 2016
In Q3, the mood among Chilean businesses improved and reached the highest level in a year.
October 5, 2016
For a third consecutive month, the mood among Chilean businesses improved in September after it had fallen to the lowest level in over seven years in June.
October 5, 2016
In August, economic activity rose 2.5% over the same month last year, according to the monthly indicator for economic activity (IMACEC).