Chile: Economic activity crashes to over one-decade low in October on country-wide protests
In October, the IMACEC economic activity index contracted 3.4% on an annual basis, contrasting September’s 3.0% expansion and marking the lowest print since June 2009.
October’s slump was chiefly driven by a 4.0% dive in the non-mining economy, which contrasted the 3.6% expansion logged a month prior, as civil unrest routed supply chains and hampered demand across the service, manufacturing and commerce sectors. Conversely, the mining economy rebounded by 2.0%, after contracting 1.6% in September.
In month-on-month seasonally-adjusted terms, economic activity fell 5.4% over the previous month in October, following September’s 0.5% contraction.