Chile: Economic activity slows in December
February 5, 2019
According to the IMACEC index, economic activity rose 2.6% year-on-year in December, decelerating from November’s 3.1%. The monthly reading came chiefly on the back of non-mining activity, which grew 2.8% on an annual basis, thanks to a buoyant service sector and a tad above the 2.7% increased logged the previous month. Meanwhile, mining activity expanded by 0.5% year-on-year, decelerating sharply from November’s 5.5% result.
In seasonally-adjusted terms, economic activity fell 0.7% month-on-month in December, down from a 1.2% increase in November. All-in-all, annual average growth reported a five-year high of 4.0% in 2018, after 2017’s sluggish 1.5% outturn.
Author: Nicolás J. Aguilar, Economist