Chile Economic Activity September 2017

Chile

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%.

The Central Bank sees GDP expanding between 2.5% and 3.5% in 2018. Panelists participating in the LatinFocus Consensus Forecast see the economy growing 2.8% in 2018 and 3.0% in 2019.


Author:, Economist

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Chile Economic Activity Chart


Chile Economic Activity September 2017

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


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