Chile - Uongozi Index Uchumi

Chile’s IMACEC economic activity index shrank 3.4 percent year-on-year in October 2019, after a 3 percent expansion in the previous month. It was the sharpest contraction in economic activity since June 2009, amid ongoing violent domestic unrest after the hike in public transport prices, which later was reversed. Non-mining output declined 4 percent, following a 3.5 percent rise in September, in particular services namely education, transport, business services and restaurant & hotels; trade; and manufacturing. Meanwhile, the mining sector grew 2 percent, after shrinking 1.6 percent in the prior month. On a seasonally adjusted monthly basis, economic activity contracted 5.4 percent, following a 0.6 percent fall in September.

Chile’s IMACEC economic activity index advanced 3 percent year-on-year in September 2019, slowing from a 3.7 percent expansion in the previous month. Non-mining output grew 3.5 percent, the same pace as in August; while the mining sector shrank 1.6 percent, after expanding 5.3 percent in the prior month. On a seasonally adjusted monthly basis, economic activity contracted 0.6 percent, following a 0.9 percent growth in August.

Chile’s IMACEC economic activity index advanced 3.7 percent year-on-year in August 2019, following a 3.2 percent expansion in the previous month and beating market forecasts of 3.2 percent. It was the strongest growth in economic activity since June last year, as the mining sector expanded 5.3 percent, faster than a 1.1 percent increase in July and non-mining output rose 3.5 percent (vs 3.4 percent in July) driven by services and construction. On a seasonally adjusted monthly basis, economic activity went up 0.9 percent, after a 0.3 percent gain in the prior month.

Chile’s IMACEC economic activity index rose 3.2 percent year-on-year in July, following an upwardly revised 1.5 percent increase in the previous month. The latest reading pointed to the strongest growth in economic activity since last November, as non-mining output advanced the most in 9 months (3.4 percent vs 1.6 percent in June), boosted by manufacturing, services and internal trade. Also, the mining sector gained some steam (1.1 percent vs 0.6 percent). On a seasonally adjusted monthly basis, economic activity went up 0.2 percent, the same pace as in the preceding month.

Chile’s IMACEC economic activity advanced 1.3 percent year-on-year in June 2019, following a 2.3 percent rise in the prior month. The latest reading pointed to the slowest growth since February. Non-mining output rose the least in almost 2 years (1.4 percent vs 2.8 percent in May), as gains in services and construction were partly offset by a decline in manufacturing. In contrast, mining activity rebounded (0.3 percent vs -2.3 percent). On a seasonally adjusted monthly basis, the Chilean economic activity showed no growth, after advancing 0.2 percent in the previous month.

Chile’s IMACEC economic activity advanced 2.3 percent year-on-year in May 2019, up from a 2.1 percent rise in the previous month and matching market expectations. It was the fastest growth since December, as non-mining output rose the most in six months (2.8 percent vs 2.1 percent in April), driven by services; while mining activity fell (-2.3 percent vs 1.9 percent). On a seasonally adjusted basis, the Chilean economy grew 0.2 percent, slightly below 0.3 percent in the previous month.