Chilean economy falls 12.4% in June, although projections improve

Imacec published data on activity in the Latin country, which registered a drop during the sixth month of the current year

The Monthly Index of Economic Activity in Chile (Imacec), which represents around 90% of the country’s GDP, registered a year-on-year drop of 12.3% in June, but represents a better record than that estimated by analysts, who pointed out a drop of between 16.1% and 15.3%.

The issuing institute explains that the results were affected by the coronavirus pandemic. In this line, the activities hit hard in year-on-year rates were services and construction and, to a lesser extent, commerce and manufacturing. In the services sector, the falls in education, transport, restaurants and hotels, and business services stood out.

On the other hand, the Andean country registered a growth of 1.7% in June compared to the previous month at a seasonally adjusted rate, in contrast to the year-on-year drop of 13.3%, as reported by the Central Bank of Chile.

These data represent the first monthly growth since the pandemic began, since the indicator for May recorded a drop of 15.3% in the year-on-year variation and 3.4% in the monthly change.

In monthly terms, the mining Imacec grew by 1.1% and the non-mining one increased by 1.7%. For its part, the annual indicator registers a 2.2% growth in the mining Imacec, compared to the 14% drop in the non-mining.

K. Tovar

Source: BioBioChile

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