Economic Indicator Briefing - Chile - Economic Activity

In November, economic activity expanded 3.1% over the same month the previous year, according to the monthly indicator for economic activity (IMACEC, Indicador Mensual de Actividad Económica). The reading contrasted the 0.9% contraction registered in October and exceeded market expectations of a 2.5% increase. The figure marked the first month of positive growth after a full year of negative readings.
A month-on-month comparison corroborates the improvement suggested by the annual figures. According to seasonally adjusted data, the economy increased 1.17% over the previous month, which nearly doubled the 0.62% rise observed in October. As a result of the monthly figure, the annual average growth rate ended the declining trend that started at the end of 2008 and rose from minus 2.4% in October to minus 2.0%.

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