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Chile Economic Activity September 2023

Chile: Economic activity flatlines in September

Economic activity was flat in year-on-year terms in September, which was above August’s 0.9% decrease and confounded market expectations of another sharp contraction. A large expansion in mining activity was offset by lower industrial and services activity.

On a seasonally adjusted monthly basis, economic activity rebounded, rising 0.6% in September (August: -0.6% mom), the best result since January and triple market expectations. Meanwhile, the trend improved, with the annual average variation of economic activity coming in at minus 1.0% in September, up from August’s minus 1.1%.

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