Chile: Economic activity decelerates marginally in July
September 7, 2015
In July, economic activity rose 2.5% over the same month last year, according to the monthly indicator for economic activity (IMACEC). The figure came slightly below the 2.6% increase tallied in June but beat market expectations of a 1.7% expansion. According to the Central Bank, July’s print reflected that increases in manufacturing and services more than compensated for a drop in mining.
On a monthly basis, economic activity in July grew 0.1% on a seasonally-adjusted basis, which was below June’s 0.8% rise. Nevertheless, annual average growth in economic activity edged up from June’s 1.8% to 2.0% in July.