Chile: Economic activity growth dips in September
November 6, 2017
Economic activity rose 1.3% in September on an annual basis according to the Monthly Indicator for Economic Activity (IMACEC) published by Chile’s Central Bank, down from August’s 2.4% and undershooting analysts’ expectations. It should however be noted that September contained two working days less than the corresponding month of 2016.
The mining IMACEC surged 8.5% year-on-year in September, marking a third consecutive monthly increase. However, the non-mining IMACEC dragged on the overall performance, increasing a mere 0.7% yoy. A decline in the construction sector partially offset growth in the trade and services sectors. Economic activity dipped 0.1% in September from a month earlier in seasonally adjusted terms, down from 0.3% in August, while annual average growth in economic activity remained at 0.9%.
Author: Oliver Reynolds, Economist