Chile Economic Activity January 2016


Chile: Economic activity records smallest expansion in over five years in January

March 7, 2016

In January, economic activity rose a weak 0.3% over the same month last year, according to the monthly indicator for economic activity (IMACEC). The figure came in below the 1.5% increase tallied in December and marked the slowest pace of growth since March 2010. According to the Central Bank, January’s notable deceleration mainly reflects that contractions in mining and manufacturing partly offset an expansion in service activities.

On a monthly basis, economic activity in January was flat on a seasonally-adjusted basis and came in below December’s 0.9% increase. Annual average growth in economic activity edged down from 2.0% in December to 1.8% in January.

Panelists participating in the LatinFocus Consensus Forecast see the economy growing 2.2% in 2016, which is unchanged from last month’s forecast. For 2017, the panel expects the economy to pick up the pace and expand 2.9%.

Author: Teresa Kersting, Economist

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Chile Economic Activity Chart

Chile Economic Activity January 2016

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

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