Chile: Economic activity expands at a solid pace in December
Economic activity rose 2.6% in December on an annual basis according to the Monthly Indicator for Economic Activity (IMACEC) published by Chile’s Central Bank, down from 3.2% in November but overshooting analysts’ expectations for the second straight month.
Growth was underpinned by a solid showing from the mining sector, which expanded 3.8% year-on-year. The non-mining sector also grew at a robust pace thanks to expansions in the services and trade sectors. Economic activity rose 0.3% in December from a month earlier in seasonally adjusted terms, down from November’s 0.7% uptick.