Chile: Economic activity rises in December
February 6, 2017
Economic activity in Chile rose 1.2% in December compared to the same month of the previous year, according to the Monthly Indicator for Economic Activity (IMACEC). December’s reading was up from the 0.8% expansion observed in November and beat market expectations of a 1.1% rise, although the increase remains low compared to the average over recent years. According to the Central Bank, contractions in the mining and manufacturing sectors were more than offset by growth in the services and commercial sectors.
On a monthly basis, economic activity in December grew 0.9% in seasonally-adjusted terms, an improvement from November’s 0.7% rise and marking the largest month-on-month increase since December 2015. However, the overall trend continued to decline in December, with annual average growth in economic activity dipping to 1.5% from 1.6% in November.
Author: Oliver Reynolds, Economist