Chile: Economic activity slows in April
June 5, 2014
In April, economic activity rose 2.3% over the same month last year according to the monthly indicator for economic activity (IMACEC). April’s print marked a slowdown compared to the 3.0% increase tallied in March. The figure just barely undershot market expectations of the index growing 2.4%. According to the Central Bank, the result mainly reflects an increase in mining.
On a monthly basis, economic activity was virtually unchanged, which contrasted the 0.38% decrease observed in March (previously reported: -0.17% month-on-month). Annual average growth in economic activity inched down from 3.5% in March to 3.4% in April, the lowest rate since June 2010.
Author: Dirina Mançellari, Senior Economist