Chile: Economic activity records lowest expansion since February in July
Latest reading: Economic activity grew 1.8% compared to the same month a year earlier in July, which was a deterioration from June’s 3.0% increase. July’s figure marked the worst reading since February. Looking at the details of the release, the non-mining sector grew at a softer rate in July, while the mining sector shrank at a more moderate rate.
On a monthly basis, economic activity increased 1.0% in seasonally adjusted terms in July, rebounding from June’s 0.5% fall and marking the best result in a year. Meanwhile, the trend pointed down, with the annual average growth of economic activity coming in at 2.7% in July, down from June’s 2.9% reading.