Chile Economic Activity December 2018

Chile

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.

The Central Bank sees growth expanding between 3.3%–4.3% in 2019 and between 2.8%–3.8% in 2020. FocusEconomics panelists project growth of 3.3% in 2019, unchanged from last month’s forecast, and 3.1% in 2020.


Author:, Economist

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Chile Economic Activity December 2018 0

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


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