Chile Economic Outlook
January 15, 2019The economy seems to have accelerated in the fourth quarter on the back of upbeat domestic demand and a rebound of mining activity, following a disappointing third quarter. Despite pessimism among consumers, household spending benefited from a tighter labor market and easing price pressures. Supply side dynamics were less encouraging, however, with manufacturing output shrinking in November. In line with business sentiment dipping into negative territory. Meanwhile, the external sector fared poorly in Q4, with export growth contracting for a fifth consecutive month in December, dragged by a drop in copper prices. On the political front, upcoming structural reforms to the highly privatized pension system will ramp up government spending, while gradually increasing worker contributions.
Chile Economic GrowthGrowth is seen closing 2018 at 4.0%, with recent momentum offsetting the third-quarter slowdown. Looking ahead, the domestic economy is projected to decelerate somewhat in the near-term, although growth should remain slightly above potential as improving labor market dynamics and moderate inflation buttress household spending. Furthermore, medium- to long-term growth should be supported by booming mining activity, as global demand for copper-made products rises. 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||4.55||-0.44 %||Jan 30|
|Exchange Rate||663.9||0.05 %||Jan 30|
|Stock Market||27,203||-0.67 %||Jan 30|
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Chile Economic News
April 1, 2019
On the heels of February’s bull-run, copper prices held onto the previous month’s gains through March.
March 30, 2019
At its 30 March monetary policy meeting, the Board of the Central Bank of Chile (BCCh) voted unanimously to leave the key policy rate unchanged at 3.00%, amid weaker-than-expected inflation.
March 29, 2019
The Adimark GfK consumer confidence index slid to 42.3 points in March, from 46.3 points in February.
March 29, 2019
The business confidence index (IMCE, Indicador Mensual de Confianza Empresarial) published by ICARE and the Adolfo Ibáñez University edged down to 54.0 points in March, from the 54.2 points recorded in February.
March 18, 2019
According to comprehensive data released by the Central Bank, the economy grew 3.6% year-on-year in the fourth quarter, accelerating from a revised 2.6% increase in the third quarter (previously reported: +2.8% yoy).