Chile: Economic activity picks up in August
October 5, 2016
In August, economic activity rose 2.5% over the same month last year, according to the monthly indicator for economic activity (IMACEC). The figure marked an improvement over July’s tepid 0.5% expansion, which had marked the slowest pace of growth in nearly two years. It also exceeded market expectations of a slower 2.0% increase. According to the Central Bank, August’s acceleration mainly reflected a recovery in mining and gains in services and manufacturing.
On a monthly basis, economic activity in August grew 0.4% in seasonally-adjusted terms, coming in above July’s 0.1% rise. The overall trend stabilized as annual average growth in economic activity remained at July’s 1.8%, which had marked the lowest result since April 2010.