Chile Economic Activity March 2019

Chile

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.

The Central Bank sees growth at between 3.0%–4.0% in both 2019 and 2020. FocusEconomics panelists project growth of 3.2% in 2019, unchanged from last month’s forecast, and 3.2% in 2020.


Author:, Economist

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Chile Economic Activity March 2019 0

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


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