Chile Economic Activity February 2021

Chile

Chile: Economic activity drops at softer pace in February

April 2, 2021

In February, the IMACEC economic activity index fell 2.2% on an annual basis, following a sharper 2.8% drop in January.

February’s decline reflected a 1.6% decrease in the non-mining economy (January: -2.8% yoy) as well as a 4.9% fall in the mining economy (January: -1.2% yoy). The decline in the non-mining economy was driven by contractions in activity in the services, and mining sectors only partially offset by expansions in the trade and industry sectors.

In month-on-month seasonally-adjusted terms, economic activity expanded 0.9% in February (January: +0.9% month-on-month seasonally-adjusted).

FocusEconomics panelists project the economy to expand 4.8% in 2021, which is unchanged from last month’s forecast, and 3.4% in 2022.


Author: Massimo Bassetti, Senior Economist

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Chile Economic Activity Chart


Chile Economic Activity February 2021

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


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