Skyline in Chile

Chile Economic Activity November 2021

Chile: Economic momentum slows in November

Economic activity grew 14.3% year-on-year in November (October: +15.0% yoy). November’s figure marked the worst reading since March. The reading was partly driven by a deterioration in the mining sector, which was somewhat offset by booming services activity, as fiscal stimulus, pension drawdowns and an improving labor market spurred consumer spending.

That said, sequential momentum still eased, amid an uptick in Covid-19 cases and a consequent tightening of restrictions in many parts of the country. On a seasonally-adjusted monthly basis, economic activity rose at a softer pace of 0.3% in November (October: +0.9% mom), the worst result since April. Meanwhile, annual average economic activity growth rose to 11.0% in November (October: +9.8%).

Momentum in December should be supported by a reduction of Covid-19 cases and the reversal of restrictions, although high inflation and election-related uncertainty could still hold back activity somewhat.

Free sample report

Access essential information in the shortest time possible. FocusEconomics provide hundreds of consensus forecast reports from the most reputable economic research authorities in the world.
Close Left Media Arrows Left Media Circles Right Media Arrows Right Media Circles Arrow Quote Wave Address Email Telephone Man in front of screen with line chart Document with bar chart and magnifying glass Application window with bar chart Target with arrow Line Chart Stopwatch Globe with arrows Document with bar chart in front of screen Bar chart with magnifying glass and dollar sign Lightbulb Document with bookmark Laptop with download icon Calendar Icon Nav Menu Arrow Arrow Right Long Icon Arrow Right Icon Chevron Right Icon Chevron Left Icon Briefcase Icon Linkedin In Icon Full Linkedin Icon Filter Facebook Linkedin Twitter Pinterest