Chile Economic Activity July 2021

Chile

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.

FocusEconomics panelists see GDP growing 7.7% in 2021, which is up 0.5 percentage points from last month’s forecast. In 2022, GDP is seen expanding 3.1%.


Author:, Economist

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Chile Economic Activity July 2021

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


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