Chile Economic Outlook
February 12, 2019Economic activity, a proxy release for GDP, points to growth of 4.0% in 2018, which if confirmed would have marked the best print in five years. After a somewhat sluggish Q3, the economy is expected to have gained speed in Q4. The manufacturing sector rebounded in December and the services sector grew solidly. That said, momentum is seen slowing in Q1. The mining economy is set to remain under pressure in the coming months, affected by fluctuating copper prices. Moreover, in January, consumer confidence lingered in negative territory. On a brighter note, businesses regained optimism in the same month, while the external sector began the year in vigorous fashion thanks to a surge in agricultural exports in anticipation of Chinese New Year celebrations.
Chile Economic GrowthEconomic momentum is seen decelerating this year against a volatile international backdrop. Headwinds surrounding the U.S.–China trade war, coupled with slower growth in the Chinese economy, threaten to drag on global demand for copper, Chile’s largest export. On a brighter note, under-control inflation and a tighter labor market should aid moderating, albeit still strong, household spending. Met the why particular panelists see GDP expanding 3.3% in 2019, which is unchanged from last month’s forecast, and 3.1% in 2020.
Chile Economy Data
5 years of Chile economic forecasts for more than 30 economic indicators.
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|Bond Yield||4.36||-0.44 %||Feb 14|
|Exchange Rate||664.5||0.05 %||Feb 14|
|Stock Market||27,213||-0.67 %||Feb 14|
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Chile Economic News
February 8, 2019
According to the National Statistical Institute (INE), consumer prices ticked up 0.1% month-on-month in January, after edging down 0.1% in December.
February 5, 2019
According to the IMACEC index, economic activity rose 2.6% year-on-year in December, decelerating from November’s 3.1%.
February 5, 2019
Copper prices hit a one-and-a-half year low at the start of the year and recovered somewhat by the end of January.
February 4, 2019
The Adimark GfK consumer confidence index (IPEC, Índice de Percepción de la Economía) rose to 47.0 points in January, from 44.6 points in December.
January 30, 2019
At its 30 January monetary policy meeting, the board of the Central Bank of Chile (BCCh) voted unanimously to hike the key policy rate from 2.75% to 3.00%.