Chile: Contraction in economic activity softens considerably in September on easing restrictions
In September, the IMACEC economic activity index fell 5.3% on an annual basis, following a 11.3% contraction in August.
September’s softer fall reflected a 5.7% contraction in the non-mining economy (August: -12.2% yoy), driven by contractions in activity in the construction and transportation, and restaurants and hotels sectors but partially offset by growth in the retail and manufacturing sectors. Meanwhile, the mining economy contracted 1.9%, following August’s 3.4% fall.
In month-on-month seasonally-adjusted terms, economic activity jumped 5.1% in September (August: +2.9% month-on-month seasonally-adjusted), marking the strongest expansion since April 2010.