Chile: Economic activity picks up in September
November 5, 2014
In September, economic activity rose 1.4% over the same month a year before, according to the monthly indicator for economic activity (IMACEC). The figure came in above the timid 0.3% increase recorded in August, but undershot the 1.7% increase the markets had expected. September’s increase marked the fastest growth pace in four months. According to the Central Bank, the result mainly reflected an acceleration in services, which was partly offset by a decline in mining activity.
On a monthly basis, economic activity fell a seasonally-adjusted 0.2% in September, which contrasted the 0.4% increase tallied in August. Annual average growth in economic activity fell from 2.2% in August to 2.0% in September, the lowest rate since May 2010 when the country was dealing with the aftermath of a devastating earthquake.
Author: Dirina Mançellari, Senior Economist