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LatinNews Daily - 03 January 2020

In brief: Economic activity still contracting in Chile

* Chile’s central bank (BCCh) has released the latest instalment of its monthly economic activity index (Imacec), a GDP proxy measure, which shows that economic activity in the country fell by 3.3% year-on-year in November 2019. Chile’s economy suffered from an economic slowdown throughout 2019 but the sharp fall in activity in November has been attributed to the widespread and ongoing social protests in rejection of inequality that erupted in mid-October. On the back of the November Imacec results, the Chilean government has said that it expects that overall GDP growth in 2019 will be of just 1%, lower than the 1.9% it had previously forecast.

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