LatinNews Daily - 02 November 2020

* Chile’s national statistics institute (INE) has released the latest instalment of its industrial production index (IPI), which shows that industrial production in the country increased by 1.9% year-on-year in September. This is the first positive IPI data since April, when industrial production began falling in Chile following the paralysation of the sector due to the restrictions imposed to contain the coronavirus (Covid-19) pandemic. The performance of the industrial sector exceeded market expectations, which had forecast a 1% fall in industrial production in line with the trend observed in previous months. However, the INE notes that following the easing of some the Covid-19 restrictions there was a considerable 5.3% increase in manufacturing activity in September, driven by a 7.7% increase in food production. The INE has also reported that gradual return to activity following the easing of restrictions has led the national unemployment rate in the July-September rolling quarter to fall to 12.3%, down from the 13% reported in the May-July rolling quarter.  

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