Chile: Economic activity moderates in April
June 6, 2011
In April, economic activity expanded 6.3% over the same month last year, according to the monthly indicator for economic activity (IMACEC, Indicador Mensual de Actividad Economica). The reading came in below both the 15.4% surge registered in March and market expectations of economic activity growing 6.9%. According to the Central Bank, the March increase mainly reflected growth in the manufacturing sector, in addition to buoyant activity in the retail and transportation sectors. A month-on-month comparison does not corroborate the strong deceleration suggested by the annual figures, as economic activity rose 0.34% over the previous month in seasonally adjusted terms, following the 0.58% increase in March. That said, the trend continues to point upwards, with annual average growth inching up from 7.2% in March to 7.3%, which represents the fastest pace since May 1998.