Industry in Chile
Chile - IndustryPresident Sebastian Piñera replaced his cabinet and delivered a handful of fiscal measures in an attempt to quell the widespread protests that erupted on 14 October and have paralyzed the country since. These measures, which will likely push next year’s deficit above the projected 2.0% of GDP, include higher minimum pensions, minimum wage guarantees, subsidies for electricity and tax hikes for high earners. Although Piñera stopped short of backtracking on his economic agenda, analysts estimate that the chance of Congress approving his costly tax reform has declined substantially. Irrespective, the protests are expected to have bruised economic activity at the fourth quarter’s outset, following an apparent pick-up in growth in the third quarter, fueled by recovering mining output and buoyant activity in the construction and service sectors. Heightened domestic uncertainty likely weighed on business sentiment in October, which, coupled with already high external risks, is expected to weigh on the economy in the final stretch of the year.
Chile - Industry Data
|Industrial Production (annual variation in %)||-||-||-||-||-|
5 years of economic forecasts for more than 30 economic indicators.
Chile Industry Chart
Source: National Statistical Insitute (INE) and FocusEconomics calculations
|Bond Yield||2.57||-0.44 %||Sep 04|
|Exchange Rate||722.8||0.05 %||Sep 04|
|Stock Market||24,044||-0.67 %||Sep 04|
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November 8, 2019
Consumer prices rose 0.8% in October, after seeing no growth in September.
November 5, 2019
The Adimark GfK consumer confidence index fell to 36.7 points in October, the lowest print since October 2016, from 38.6 points in September, thus falling further below the critical 50-point threshold that separates pessimism from optimism among Chilean consumers.
November 4, 2019
The Chilean peso plunged to a record low against the U.S. dollar at the end of October amid heightened civil unrest.
November 4, 2019
The business confidence index (IMCE), published by ICARE and the Adolfo Ibáñez University, rose in October, coming in at 51.5 points (September: 50.7 points).
November 1, 2019
In September, the IMACEC economic activity index grew 3.0% on an annual basis, slowing down from August’s 3.7% jump which marked the fastest expansion since October 2018.