Chile: Economic activity drops at softer pace in February
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).