Chile Economic Outlook
September 10, 2019
Growth recovered slightly in the second quarter, thanks to a marginal rebound in mining activity, following a marked downturn in the first quarter. On the expenditure side, domestic activity lost stride in Q2 on weaker public spending and faltering household consumption amid a higher unemployment rate. Fixed investment, however, accelerated on upbeat construction activity. On the external front, the picture was also somewhat bleak. Lower shipments of copper drove the overall contraction in exports in Q2, while a considerable slump in imports led the sector to positively contribute to overall growth. Turning to the third quarter, incoming data has been mixed. Consumer confidence dropped in August, while business sentiment rose in the same month. Meanwhile, merchandise exports dipped in July on a downturn in global copper prices.Chile Economic Growth
Growth is seen slowing sharply this year. Externally, feeble demand for base metals stemming from ongoing trade wars will weigh on mining activity and, in turn, dent exports. Domestically, still high employment and a weaker peso will curb private consumption growth. Robust investment activity, thanks to cheaper credit conditions, should soften the slowdown, however. FocusEconomics panelists see GDP expanding 2.6% in 2019, which is down 0.2 percentage points from last month’s forecast, and 3.0% in 2020.Chile Economy Data
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Chile Facts
| Value | Change | Date | |
|---|---|---|---|
| Bond Yield | 2.57 | -0.44 % | Sep 04 |
| Exchange Rate | 722.8 | 0.05 % | Sep 04 |
| Stock Market | 24,044 | -0.67 % | Sep 04 |
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Chile Economic News
Chile: Inflation inches up in August
September 6, 2019
Consumer prices rose 0.2% month-on-month in August, matching July’s increase.
Chile: Economic activity growth surges to eight-month high in July
September 5, 2019
In July, the IMACEC economic activity index jumped 3.2% year-on-year, accelerating considerably from June’s 1.5% increase and marking the strongest expansion since November 2018.
Chile: Consumer sentiment weakens in August
September 5, 2019
The Adimark GfK consumer confidence index fell to 39.4 points in August, from 40.3 points in July.
Chile: Copper prices slump to over two-year low in August amid global economic uncertainties
September 5, 2019
Copper prices lost ground in August, as escalating trade tensions and a slowing global economy weighed on demand for the red metal.
Chile: Central Bank slashes key rate to over nine-year low in September
September 3, 2019
At its 3 September monetary policy meeting, the board of the Central Bank of Chile (BCCh) unanimously decided to cut the key benchmark rate to 2.00% from 2.50% where it had sat since June.
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