Chile Economic Activity

Chile

Chile: Economic activity slows in August

October 6, 2015

In August, economic activity rose 1.1% over the same month last year, according to the monthly indicator for economic activity (IMACEC). The figure came below the 2.5% increase tallied in July and fell short of market expectations of a 2.0% expansion. According to the Central Bank, August’s moderate expansion reflected that gains in services and commerce more than compensated for a drop in mining and manufacturing.

On a monthly basis, economic activity in August shrank 1.0% on a seasonally-adjusted basis, which contrasted July’s 0.1% rise. Annual average growth in economic activity stabilized at July’s 2.0%.

Panelists participating in the LatinFocus Consensus Forecast see the economy growing 2.3% in 2015, which is up 0.1 percentage points from last month’s forecast. For 2016, the panel expects the economy to pick up the pace and expand 2.8%.


Author: Teresa Kersting, Economist

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Chile Economic Activity Chart


Chile Economic Activity August 2015

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


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