Chile Economic Activity


Chile: Economic activity expands at slowest rate in more than four years

August 5, 2014

In June, economic activity rose a timid 0.8% over the same month last year, according to the monthly indicator for economic activity (IMACEC). June’s print came in below the 2.3% increase recorded in May and disappointed the markets, which had expected the index to increase 2.0%. The figure marked the slowest expansion since March 2010. According to the Central Bank, the result mainly reflected a slowdown in the manufacturing sector.

On a monthly basis, economic activity fell 0.80%, which contrasted the 0.51% increase tallied in May. Annual average growth in economic activity fell from 3.3% in May to 3.0% in June, the lowest rate since June 2010, when the country was dealing with the aftermath of a devastating earthquake.

The Central Bank expects the economy to expand 4.1% in 2014. The Bank expects growth within a range of 2.5% to 3.5% in 2015. LatinFocus Consensus Forecast panelists see the economy growing 3.4% in 2014, which is unchanged from last month’s forecast. For 2015, the panel expects the economy to expand 4.2%.

Author:, Senior Economist

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Chile Economic Activity Chart

Chile Economic Activity June 2014

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

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