Chile: Economic activity picks up in December
January 5, 2015
In December, economic activity rose 2.9% over the same month of the previous year, according to the monthly indicator for economic activity (IMACEC). The figure marked an improvement over the 1.3% increase tallied in November, and overshot the 2.0% increase the markets had expected. December’s rise marked the fastest growth pace in nine months. According to the Central Bank, the result mainly reflected an increase in services and trade activity, and greater value added from mining.
On a monthly basis, economic activity rose a seasonally-adjusted 1.0% in December, which was up from the 0.3% increase posted in November. Annual average growth in economic activity was stable at November’s 1.8% in December. November’s figure had marked the lowest level since April 2010, when the country was dealing with the aftermath of a devastating earthquake.
Author: Dirina Mançellari, Senior Economist