Chile: Economic activity growth surges to nine-month high in August
In August, the IMACEC economic activity index jumped 3.7% year-on-year, accelerating from July’s 3.2% increase and marking the strongest expansion since October 2018.
August’s improvement was chiefly driven by soaring activity in the mining economy, which jumped 5.3%, a 14-month high, from 1.1% in July. In addition, growth in the non-mining economy edged up to 3.5% (July: +3.4% year-in-year), supported by upbeat activity in the construction and service sectors.
In seasonally-adjusted terms, economic activity rose 0.9% over the previous month in August, following July’s 0.2% uptick.