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Chile Economic Activity December 2021

Chile: Economic activity records slowest expansion since March in December

Economic activity grew 10.1% compared to the same month of the previous year in December, which followed November’s 14.3% increase. The outturn marked the worst reading since March. Looking at the details of the release, the mining sector returned to growth in December, while the non-mining sector increased at a weaker rate.

On a monthly basis, economic activity dropped 0.4% in seasonally-adjusted terms in December, contrasting November’s 0.4% expansion and marking the worst result since April. Meanwhile, annual average economic activity growth rose to 12.0% in December (November: +11.0%). Despite December’s weaker month-on-month and year-on-year readings, data for Q4 as a whole suggests the economy still recorded a robust expansion in the period, spurred by an improving labor market and fiscal support.

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