Chile Economic Activity October 2020


Chile: Contraction in economic activity softens considerably in October

December 1, 2020

In October, the IMACEC economic activity index dipped 1.2% on an annual basis, following a 4.8% contraction in September.

October’s fall reflected a 1.5% contraction in the non-mining economy (September: -5.2% yoy), driven by contractions in activity in the services sector partially offset by growth in the retail and manufacturing sectors. Meanwhile, the mining economy expanded 1.6%, contrasting September’s 2.0% fall.

In month-on-month seasonally-adjusted terms, economic activity dipped 0.5% in October (September: +5.2% month-on-month seasonally-adjusted).

FocusEconomics panelists project the economy to expand 4.8% in 2021, which is unchanged from last month’s forecast, and 3.4% in 2022.

Author: Massimo Bassetti, Senior Economist

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Chile Economic Activity Chart

Chile Economic Activity October 20 20

Note: Year-on-year changes and annual average growth rate in %.
Source: Chile Central Bank (BCC) and FocusEconomics calculations.

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