Chile: Economic activity growth eases in July but remains healthy
September 1, 2021
Economic activity expanded 18.1% in year-on-year terms in July, which followed June's 20.6% increase. The slowdown was partly due to a deterioration in the mining sector, which recorded the weakest reading since February. In addition, non-mining output lost steam.
On a monthly basis, economic activity grew 1.4% in seasonally-adjusted terms in July, which was below June’s 1.8% expansion. Meanwhile, annual average economic activity growth rose to 4.2% in July (June: +1.9%). Despite the deceleration, July’s economic activity reading was still robust, supported by the marked drop-off in Covid-19 cases and easing of restrictions in July, as well as continued strong fiscal stimulus.
Author: Oliver Reynolds, Economist