Chile Economic Activity February 2016

Chile

Chile: Economic activity grows at fastest pace in over a year

April 4, 2016

In February, economic activity rose 2.8% over the same month last year, according to the monthly indicator for economic activity (IMACEC). The figure marked the fastest pace of growth in over a year and exceeded January’s weak 0.5% expansion. According to the Central Bank, February’s notable acceleration mainly reflects expansions in services, mining and trade.

On a monthly basis, economic activity in February grew 0.8% over the previous month on a seasonally-adjusted basis, which contrasted January’s 0.2% drop. Annual average growth in economic activity inched up from 1.8% in January to 1.9% in February.

Panelists participating in the LatinFocus Consensus Forecast see the economy growing 2.0% in 2016, which is unchanged from last month’s forecast. For 2017, the panel expects the economy to pick up the pace and expand 2.8%.


Author: Teresa Kersting, Economist

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Chile Economic Activity Chart


Chile Economic Activity February 2016

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


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