Chile: Economic activity slows in May
July 6, 2015
In May, economic activity rose 0.8% over the same month last year, according to the monthly indicator for economic activity (IMACEC). The figure came in below the 1.7% expansion tallied in April and undershot market expectations of a 1.6% expansion. According to the Central Bank, May’s expansion reflected that an increase in services more than compensated for contractions in manufacturing, mining and wholesale trade.
On a monthly basis, economic activity in May recorded flat growth on a seasonally-adjusted basis, matching April’s reading. Annual average growth in economic activity moderated from April’s 1.8% to 1.6% in May.