Chile Economic Activity November 2019

Chile

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.

On its December assessment, the Central Bank saw growth between 0.5%–1.5% in 2020 and between 2.5%–3.5% in 2021. FocusEconomics panelists project growth of 2.4% in 2020, which is down 0.4 percentage points from last month’s forecast, and 2.9% in 2021.


Author:, Economist

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Chile Economic Activity Chart


Chile Economic Activity November 2019

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


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