Chile: Economic activity accelerates
October 5, 2012
In August, economic activity expanded 6.2% over the same month a year ago, according to the monthly indicator for economic activity (IMACEC). The reading represented an acceleration compared to the 5.3% expansion observed in July, and was broadly in line with market expectations. According to the Central Bank, the monthly expansion was driven by growth in commerce and services as well as in mining. On a monthly basis, economic activity increased a seasonally adjusted 0.18% in August, which was below the 0.40% expansion observed in July. Annual average growth in economic activity rose from 4.9% in July to 5.2% in August.