Retail Sales in Chile
Chile - Retail SalesRecent data shows that annual economic growth eased in Q1, with private consumption, public spending, fixed investment and export momentum all softening. Moreover, activity contracted on a quarter-on-quarter basis. Turning to Q2, the economy shrank in month-on-month terms in April. However, this was purely due to weaker mining output, as non-mining activity expanded. In particular, consumer spending was robust—notwithstanding surging inflation and interest rates—with the reduced incidence of Covid-19 cases likely playing a role. Meanwhile, business sentiment averaged lower in April–May relative to Q1, hinting at more subdued investment. In politics, in mid-May the constituent assembly finished drafting the new constitution. The text enhances the role of the state, but should broadly safeguard Central Bank independence and private mining rights. A referendum on the document is set for 4 September.
Chile - Retail Sales Data
|Retail Sales (annual variation in %)||3.1||3.8||4.3||4.4||1.6|
5 years of economic forecasts for more than 30 economic indicators.
Chile Retail Sales Chart
Source: National Statistical Insitute (INE) and FocusEconomics calculations
|Bond Yield||3.14||-0.44 %||Dec 30|
|Exchange Rate||752.0||0.05 %||Jan 01|
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November 2, 2022
Economic activity dropped 0.4% year on year in September (August: -0.0% yoy).
November 2, 2022
Business confidence fell to 39.0 in October from September's 43.3.
November 1, 2022
Copper prices declined in October to USD 7,651 per metric ton from the prior month’s USD 7,746 per ton.
October 14, 2022
Consumer confidence fell to 88.8 in September from August's 91.8.
October 13, 2022
At its mid-October meeting, the board of the Central Bank of Chile (BCCh) decided to increase the monetary policy rate from 10.75% to 11.25%, taking total tightening this year to 725 basis points.