Chile Economic Activity September 2018


Chile: Economic activity accelerates in October

December 5, 2018

According to the IMACEC monthly economic activity index published by the Central Bank of Chile, economic activity rose 4.2% in annual terms in October, up from the previous month’s 2.1% increase. The print signaled the strongest expansion so far in the second half of the year and came on the heels of relatively soft third-quarter readings.

The overall expansion was led solely by the booming non-mining sector, with the non-mining index up 5.1% on annual basis in October (September: +5.5% year-on-year), on the back of solid performance of trade and manufacturing activity. Meanwhile, mining activity continued to contract in October, with the mining index down 6.1% year-on-year (September: -2.0% yoy).

In seasonally-adjusted terms, economic activity rose 0.2% month-on-month in October, down from a 0.4% increase in September. Meanwhile, growth in annual average economic activity remained stable at a four-year high of 4.0% for a third consecutive month in October.

The Central Bank sees GDP expanding between 3.3%–4.3% in 2019 and between 2.8%–3.8% in 2020. FocusEconomics panelists see growth of 3.3% in 2019, down 0.1 percentage points from last month’s forecast, and 3.1% in 2020.

Author:, Research Team Manager

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Chile Economic Activity Chart

Chile Economic Activity October 2018

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

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