Chile Economic Activity


Chile: Economic activity slows again in March

May 5, 2015

In March, economic activity rose 1.6% over the same month last year, according to the monthly indicator for economic activity (IMACEC). The figure marked a deceleration from the 2.0% increase tallied in February but came in above market expectations of a 1.1% expansion. According to the Central Bank, the result mainly reflected an increase in services, which was partly offset by a drop in mining activity.

On a monthly basis, economic activity fell a seasonally-adjusted 0.3% in March, which came in above the 0.6% decrease posted in the previous month. Annual average growth in economic activity inched down from 2.0% in February to 1.6% in March.

LatinFocus Consensus Forecast panelists see the economy growing 2.9% in 2015, which is unchanged from last month’s forecast. For 2016, the panel expects the economy to pick up the pace and expand 3.6%.

Author: Teresa Kersting, Economist

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Chile Economic Activity Chart

Chile Economic Activity March 2015

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

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