Chile: Economic activity moderates in September
November 7, 2016
In September, economic activity rose 1.4% from the same month last year, according to the monthly indicator for economic activity (IMACEC). The figure marked a deterioration from August’s 2.5% expansion, which had marked the fastest pace of growth in six months. It also fell below market expectations of a stronger 2.0% increase. According to the Central Bank, September’s deceleration mainly reflected a slump in the mining sector and a resilient performance in services and manufacturing.
On a monthly basis, economic activity in September grew 0.2% in seasonally-adjusted terms, coming in slightly below August’s 0.3% rise. The overall trend resumed its deterioration in September as annual average growth in economic activity dipped down to 1.7% from 1.8% in August. This marks the lowest result since April 2010.
Author: Dirina Mançellari, Senior Economist