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.
Author: Almanas Stanapedis, Economist