Chile Economic Outlook
August 7, 2018Second-quarter growth appears to have sustained the momentum from the exceptional outturn at the beginning of the year. Economic activity rose at an impressive rate throughout the quarter, with average growth comfortably above the levels seen in the past half-decade. Consumer confidence remained in positive territory during the second quarter. Moreover, retail sales rebounded in May and remained elevated in June, pointing to solid household spending in the quarter. Business sentiment, meanwhile, remained upbeat throughout the quarter, suggesting expansionary conditions were sustained amid the improving health of the manufacturing industry. On the other hand, despite remaining sturdy overall, export growth decelerated from the previous quarter in Q2, owing to mounting trade war-related uncertainties and a drop in copper prices in the second half of the quarter. Meanwhile, both consumer and business sentiment inched down in July, signaling a potential cooldown in economic activity at the beginning of Q3.
Chile Economic GrowthGrowth is expected to be robust in 2018, with the external sector remaining in the driver’s seat in the second half of the year against the backdrop of still-solid global demand for copper. Furthermore, domestic demand should be upbeat on strong investment growth, particularly in the manufacturing, wholesale trade and services industries. Met the why particular panelists see GDP expanding 3.8% in 2018, which is up 0.2 percentage points from last month’s forecast, and 3.5% in 2019.
Chile Economy Data
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|Bond Yield||4.85||-0.44 %||Aug 07|
|Exchange Rate||643.1||0.05 %||Aug 07|
|Stock Market||26,919||-0.67 %||Aug 07|
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Chile Economic News
August 8, 2018
Consumer prices rose 0.4% from the previous month in July, up from June’s 0.1% increase.
August 6, 2018
Economic activity rose 4.9% year-on-year in June, according to the Monthly Indicator for Economic Activity (IMACEC) published by the Central Bank of Chile.
August 3, 2018
The Adimark GfK consumer confidence index (IPEC, Índice de Percepción de la Economía) plummeted from a year-to-date high of 52.7 points in June to 50.0 points in July.
August 3, 2018
Copper prices continued to fall in the first half of July, but then regained some lost ground in the last week of the month.
August 1, 2018
The business confidence index (IMCE, Indicador Mensual de Confianza Empresarial) published by ICARE and the Universidad Adolfo Ibáñez fell from June’s 55.1 points to 52.2 in July, marking the lowest reading this year so far.