Chile: Economic activity falls for a second consecutive month in November
January 2, 2020
In November, the IMACEC economic activity index contracted 3.3% on an annual basis, improving marginally from October’s 3.4% slump—which had marked the lowest print since June 2009.
November’s contraction reflected a 5.1% dive in the mining economy, contrasting a 2.0% expansion in October. Meanwhile, activity in the non-mining economy fell by 3.1%, a slight improvement from the 3.6% drop logged a month prior as upbeat construction and manufacturing activity buffered slumps in education, transport and hospitality activity.
In month-on-month seasonally-adjusted terms, economic activity rose 1.0% over the previous month in November, contrasting October’s 5.4% dive.
Author: Nicolás J. Aguilar, Economist