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08 Jan 2019, Radoslav Yordanov, EMIS Editor

Chile’s economic activity growth beats expectations in November

Chile’s economic activity rose 3.1% year-on-year in November, CEEMarketWatch reported citing figures released by central bank’s IMACEC index. This result shows deceleration compared to the 4.2% y/y hike scored in October, but it also exceeded analysts’ expectations of 2-2.2% y/y expansion. The local economy grew 1.2% in m/m terms, its strongest result since July.

The positive performance recorded in November was mainly driven by the mining sector, which increased 5.5% y/y and 10.4% m/m due to higher copper production.

Considering that the Chilean economy grew more than expected in November, CEEMarketWatch expects the local GDP to be close to 4% in the end of 2018. This source also said that there is a 90% chance that the central bank raises its interest rate 25bps this month.

Sign in and read the full article in emis.com, and find out more about EMIS. Original source: CEEMarketWatch - Daily News