Chile: Economic activity slows in January
March 5, 2015
In January, economic activity rose 2.7% over the same month last year, according to the monthly indicator for economic activity (IMACEC). The figure marked a deceleration from the 2.9% increase tallied in December and met market expectations. According to the Central Bank, the result mainly reflected an increase in mining, which was partly offset by a drop in wholesale trade and car sales.
On a monthly basis, economic activity rose a seasonally-adjusted 0.4% in January, which was down from the 1.1% increase posted in December. Annual average growth in economic activity inched up from 1.8% in December to 1.9% in January, thus marking the highest reading in four months.
Author: Dirina Mançellari, Senior Economist