Chile: Economic activity improves in March
May 6, 2019
In March, the IMACEC index picked up on the heels of February’s slowdown, which saw the lowest reading since June 2017. Economic activity rose 1.9% year-on-year, accelerating from the 1.4% expansion registered in the previous month.
The print chiefly reflected a softer contraction of the mining economy, after February’s adverse weather conditions weighed on production (March: -2.1% year-on-year; February: -7.8% yoy). Meanwhile, the non-mining economy decelerated a notch, from 2.4% in February to 2.3% in March.
In seasonally-adjusted terms, economic activity rose 0.6% month-on-month in March, contrasting February’s 0.2% contraction.
Author: Nicolás J. Aguilar, Economist