Chile Economic Outlook
September 12, 2018
The Chilean economy fired on all cylinders in the second quarter as robust domestic demand dynamics drove growth to a near six-year high. Household spending accelerated to a four-year high in Q2 amid subdued inflationary pressures and despite the stagnant job market. Investment activity also soared, propped up by buoyant manufacturing and commercial sectors, suggesting sustained momentum in non-mining activity in the quarter. The external sector’s performance, however, deteriorated as climbing imports—partly driven by strong demand for foreign capital goods—took a bite out of overall growth in Q2. Meanwhile, available data for Q3 appears slightly less upbeat. Economic activity decelerated markedly in July signalling the potential softening of external demand conditions and reflecting persistently weak labor market dynamics. Moreover, business sentiment fell to a year-to-date low in August while consumer confidence slipped into pessimistic territory in August, likely driven by the peso depreciation and a pick-up in inflationary pressures.Chile Economic Growth
Solid growth is seen carrying over into the second half of the year on strong investment growth and elevated private consumption. However, the worsening of the external backdrop—mostly due to weaker copper prices—is seen as a major downside risk to growth next year. FocusEconomics panelists see GDP expanding 3.9% in 2018, which is up 0.1 percentage points from last month’s forecast, and 3.5% in 2019.Chile Economy Data
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Chile Facts
| Value | Change | Date | |
|---|---|---|---|
| Bond Yield | 4.84 | -0.44 % | Sep 20 |
| Exchange Rate | 667.0 | 0.05 % | Sep 20 |
| Stock Market | 27,535 | -0.67 % | Sep 20 |
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Chile Economic News
Chile: Inflation moderates in August
September 10, 2018
Consumer prices ticked up 0.2% from the previous month in August, down from July’s 0.4% increase.
Chile: Copper prices plummet to an over one-year low in August
September 6, 2018
Copper prices lost considerable ground in August falling to a 13-month low against the backdrop of an ongoing emerging-market selloff and an escalation of the trade dispute between the U.S. and China.
Chile: Peso plummets to an over two-year low in September
September 6, 2018
The Chilean peso has lost considerable ground against the U.S. dollar in recent weeks following what had already been a challenging summer for the currency of Latin America’s second-largest exporter.
Chile: Economic activity loses steam in July
September 5, 2018
Economic activity increased 3.3% year-on-year in July, according to the IMACEC monthly economic activity index published by the Central Bank of Chile.
Chile: Business confidence slips to a year-to-date low in August
September 4, 2018
The business confidence index (IMCE, Indicador Mensual de Confianza Empresarial) published by ICARE and the Universidad Adolfo Ibáñez fell from July’s 52.2 points to 50.8 points in August, marking the lowest reading this year so far.
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