Chile Economic Outlook
May 14, 2019
Available data suggests that growth halved in the first quarter of the year. Economic activity lost steam in Q1, dragged by a fall in mining output amid adverse weather in February and a lackluster performance by the manufacturing sector. In turn, merchandise exports fell in Q1 and again in April, on lower copper shipments. In addition household spending is also expected to have flagged: Consumer sentiment remained stuck in negative territory and employment rates rose only marginally, pointing to softer spending. On the other hand, fixed investment likely accelerated modestly, buttressed by upbeat business sentiment linked to higher copper prices; however, the recent downturn in commodity markets, owing to escalating trade tensions, threatens to hinder investment going forward. Meanwhile, on 7 May, Moody’s ratified its A1 credit rating with a stable outlook, noting that the country is well prepared to deal with shocks thanks to its institutional and fiscal strengths.Chile Economic Growth
Growth is seen slowing this year and risks to the outlook have increased recently as reignited trade tensions could hit the mining economy. Moreover, the glacial pace of employment growth suggests that household spending might struggle to accumulate gains in the near-term. Downside risks to investment growth, linked to further delays on the tax and labor reforms, remain. FocusEconomics panelists see GDP expanding 3.2% in 2019, which is unchanged from last month’s forecast, and 3.1% in 2020.Chile Economy Data
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Chile Facts
| Value | Change | Date | |
|---|---|---|---|
| Bond Yield | 4.10 | -0.44 % | May 13 |
| Exchange Rate | 693.4 | 0.05 % | May 13 |
| Stock Market | 25,375 | -0.67 % | May 13 |
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Chile Economic News
Chile: Central Bank stays put in May
May 9, 2019
At its 9 May monetary policy meeting, the Board of the Central Bank of Chile (BCCh) voted unanimously to leave the key policy rate unchanged at 3.00%, amid weaker-than-expected inflation.
Chile: Inflation stable in April
May 8, 2019
According to the National Statistical Institute (INE), consumer prices rose 0.3% month-on-month in April, after March’s 0.5% result.
Chile: Economic activity improves in March
May 6, 2019
In March, the IMACEC index picked up on the heels of February’s slowdown, which saw the lowest reading since June 2017.
Chile: Consumers slightly less pessimistic in April
May 6, 2019
The Adimark GfK consumer confidence index rose to 43.2 points in April, from 42.3 points in March.
Chile: Copper prices stable in April
May 2, 2019
Copper prices remained fairly stable throughout April.
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