In the third quarter, GDP expanded 4.8% over the same quarter last year. The figure was below the revised 6.6% expansion recorded in the second quarter (previously reported: +6.8% year-on-year) but matched market expectations. Total consumption decelerated from an 8.4% increase in Q2 to a 6.5% expansion in Q3, owing to weaker private consumption. Meanwhile, gross fixed investment doubled from a 10.7% increase in the second quarter to a 21.6% expansion in the third. Despite the deceleration, domestic demand remained strong, expanding 9.4%. Meanwhile, the external sector's net contribution to overall growth deteriorated notably as copper exports slipped in the third quarter. Exports of goods and services decelerated from a 10.8% annual increase in the second quarter to a 3.9% expansion in Q3. In contrast, imports remained virtually unchanged, expanding 13.8% in the third quarter (Q2: +13.9% year-on-year). As a result, the external sector's net contribution to overall economic growth deteriorated from minus 3.6 percentage points in the second quarter to minus 6.5 percentage points in the third. A quarter-on-quarter comparison corroborates the deceleration suggested by the annual figures. According to seasonally adjusted figures, the economy expanded 0.65% over the previous quarter, below the 1.30% expansion registered in Q2. The Central Bank expects economic growth to range between 6.25% and 6.75% this year, and to moderate to 4.25%-5.25% in 2012.
Economy slows in the third quarter amid slower export growth
November 18, 2011
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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).