Chile: Economic activity slows in April
June 5, 2012
In April, economic activity expanded 4.8% over the same month last year, according to the monthly indicator for economic activity (IMACEC, Indicador Mensual de Actividad Economica). The reading came in slightly below both the 5.0% increase registered in March, and market expectations, which had economic activity expanding to 4.9%. According to the Central Bank, the April reading was driven by growth in commerce and services. Meanwhile, economic activity expanded 0.48% over the previous month in seasonally adjusted terms, slower than the 0.67% increase witnessed in March. Annual average growth inched down from 5.0% in March to 4.9% in April. The Central Bank expects the economy to expand between 4.0% and 5.0% this year.