Chile: Economic activity drops at sharper pace in January
In January, the IMACEC economic activity index fell 3.1% on an annual basis, following a softer 0.4% dip in December.
January’s drop reflected a 3.1% downturn in the non-mining economy (December: +0.6% yoy) as well as a 1.5% fall in the mining economy (December: -9.2% yoy). The decline in the non-mining economy was driven by contractions in activity in the services, industry and mining sectors only partially offset by an expansion in the trade sector.
In month-on-month seasonally-adjusted terms, economic activity expanded 1.3% in January (December: +3.6% month-on-month seasonally-adjusted).