Chile Economic Activity May 2016

Chile

Chile: Economic activity picks up in May

July 5, 2016

In May, economic activity rose 1.9% over the same month last year, according to the monthly indicator for economic activity (IMACEC). The figure marked an acceleration over April’s 0.7% expansion. According to the Central Bank, May’s uptick mainly reflected that growth in services and commerce more than offset weakness in the mining sector.

On a monthly basis, economic activity in May rose 0.7% on a seasonally-adjusted basis, which contrasted Aril’s 1.2% decrease. Annual average growth in economic activity inched up from 1.7% in April to 1.8% in May.

Panelists participating in the LatinFocus Consensus Forecast see the economy growing 1.8% in 2016, which is unchanged from last month’s forecast. For 2017, the panel expects the economy to pick up the pace and expand 2.5%.


Author: Teresa Kersting, Economist

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Chile Economic Activity May 2016 0

Note: Year-on-year changes and annual average growth rate in %.
Source: Chile Central Bank (BCC) and FocusEconomics calculations.


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