Chile: Economy remains robust in the first quarter
May 18, 2012
In the first quarter, GDP expanded 5.6% over the same quarter a year ago on the back of healthy domestic demand and a stronger external sector. The figure came in above the 4.5% expansion recorded in the fourth quarter and was in line with market expectations. Total consumption decelerated from a 5.6% increase in Q4 to a 4.5% expansion in Q1, owing to weaker private consumption (Q4 2011: +6.0% year-on-year, Q1 2012: +5.2% yoy). In addition, gross fixed investment decelerated notably (Q4 2011: +16.3% yoy; Q1 2012: +8.3% yoy). As a result, domestic demand expanded 4.9%, below the 5.5% increase in the previous quarter.