Chile: Economic activity decelerates in September
November 5, 2013
According to the monthly indicator for economic activity (IMACEC), economic activity rose 3.9% over the same month last year in September. The reading was slightly below the 4.1% rise recorded in August and undershot market expectations of a 4.1% increase on par with August. According to the Central Bank, the monthly result reflected, "dynamism of mining and trade activities."
On a monthly basis, economic activity fell 0.83%, contrasting the 0.63% increase recorded in August. Moreover, annual average growth in economic activity remained at August's 4.7%.
The Central Bank indicated in its September Monetary Policy Report that it expects economic growth to range between 4.0% and 4.5% in 2013 and in 2014. LatinFocus Consensus Forecast panelists see the economy growing 4.8% this year, which is up 0.1 percentage points from last month's forecast. For 2014, the panel expects the economy to expand 4.8%, which is down 0.1 percentage points from last month's projection.
Author: Dirina Mançellari, Senior Economist