Chile Economic Outlook
January 15, 2019
The economy seems to have accelerated in the fourth quarter on the back of upbeat domestic demand and a rebound of mining activity, following a disappointing third quarter. Despite pessimism among consumers, household spending benefited from a tighter labor market and easing price pressures. Supply side dynamics were less encouraging, however, with manufacturing output shrinking in November. In line with business sentiment dipping into negative territory. Meanwhile, the external sector fared poorly in Q4, with export growth contracting for a fifth consecutive month in December, dragged by a drop in copper prices. On the political front, upcoming structural reforms to the highly privatized pension system will ramp up government spending, while gradually increasing worker contributions.Chile Economic Growth
Growth is seen closing 2018 at 4.0%, with recent momentum offsetting the third-quarter slowdown. Looking ahead, the domestic economy is projected to decelerate somewhat in the near-term, although growth should remain slightly above potential as improving labor market dynamics and moderate inflation buttress household spending. Furthermore, medium- to long-term growth should be supported by booming mining activity, as global demand for copper-made products rises. FocusEconomics panelists see GDP expanding 3.3% 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 | 4.60 | -0.44 % | Jan 21 |
| Exchange Rate | 672.2 | 0.05 % | Jan 21 |
| Stock Market | 27,517 | -0.67 % | Jan 21 |
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Chile Economic News
Chile: Copper prices decline in December
January 10, 2019
Copper prices fell in recent weeks after a soft recovery in the October–November period.
Chile: Inflation recedes in December
January 9, 2019
According to the National Statistical Institute (INE), consumer prices decreased by 0.1% month-on-month in December, after flat growth in November.
Chile: Economic activity loses steam despite mining rebound in November
January 7, 2019
According to the IMACEC monthly economic activity index , economic activity rose 3.1% year-on-year in November, decelerating from the 4.2% increase logged in October.
Chile: Chilean consumers continue to lose confidence in December
January 7, 2019
The Adimark GfK consumer confidence index (IPEC, Índice de Percepción de la Economía) inched down to 44.6 points in December, from 44.9 points in November, the lowest reading in 16 months.
Chile: Business confidence inches down in December
January 2, 2019
The business confidence index (IMCE, Indicador Mensual de Confianza Empresarial) published by ICARE and the Universidad Adolfo Ibáñez inched down from 49.0 points in November to 48.8 points in December, staying below the crucial 50-point threshold that separates pessimism from optimism among businesses.
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