Chile: Economic activity in November remains subdued
January 5, 2017
Economic activity rose 0.8% in November compared to the same month of the previous year, according to the Monthly Indicator for Economic Activity (IMACEC). The figure marked an improvement from the 0.4% contraction observed in October, although it undershot market expectations of a 1.2% rise and remained one of the lowest rates in recent years. According to the Central Bank, November’s growth reflects expansion in the mining and trade sectors, while the manufacturing sector contracted.
On a monthly basis, economic activity in November grew 0.7% in seasonally-adjusted terms, contrasting October’s 1.2% fall. The overall trend continued to decline in November, with annual average growth in economic activity dipping to 1.6% from 1.7% in October. This marks the lowest reading since April 2010.
Author: Oliver Reynolds, Economist