Chile Economic Activity July 2019

Chile

Chile: Economic activity growth surges to eight-month high in July

September 5, 2019

In July, the IMACEC economic activity index jumped 3.2% year-on-year, accelerating considerably from June’s 1.5% increase and marking the strongest expansion since November 2018.

The improvement was chiefly driven by robust non-mining activity growth, which picked up to 3.4% in July, from 1.4% in June, amid solid growth in the manufacturing, business services and commerce sectors. That said, activity in the mining economy also gathered steam in July, with growth accelerating from a modest 0.3% in June to 1.1%.

In seasonally-adjusted terms, economic activity rose 0.2% over the previous month in July, following a flat reading in June.

The Central Bank sees growth at between 2.3%–2.8% in 2019 and between 2.8%–3.5% in 2019 2020. FocusEconomics panelists project growth of 2.7% in 2019, which is down 0.1 percentage points from last month’s forecast, and 3.13.1% in 2020.


Author:, Economist

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Chile Economic Activity Chart


Chile Economic Activity July 2019

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


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