Advanced Search

LatinNews Daily - 13 January 2020

Click here for printer friendly version
Click here for full report

In brief: Economists lower Chile growth forecast for 2020

*Economic experts consulted by Chile’s central bank (BCCh) have lowered their economic growth forecasts for the country in 2020 to 1.2%, down from teh 1.5% forecast in December 2019. Earlier this year, the BCCh released the latest instalment of its monthly economic activity index (Imacec), a GDP proxy measure, which showed 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 said it expects that overall GDP growth in 2019 will be of just 1%, lower than the 1.9% it had previously forecast.