LatinNews Daily - 03 November 2020

* Chile’s central bank (BCCh) has released the monthly index of economic activity (Imacec) for September, according to which economic activity dropped by 5.3% year-on-year. This result is seen as confirming the country’s timid economic recovery from the crisis caused by the coronavirus (Covid-19) pandemic, after five consecutive months of double-digit contractions in the Imacec. In seasonally adjusted terms, the September Imacec grew by 5.1% compared with August, while the Imacec has accumulated losses of 6.5% in the 12 months to September. The mining Imacec fell by 1.9% year-on-year and by 1.5% month-on-month, while the non-mining Imacec contracted by 5.7% year-on-year, but grew by 5.9% compared with August. Finance Minister Ignacio Briones has commented on the latest Imacec data, saying that “this is a figure which we must observe with caution, but it is a sign that it is going in the right direction”.

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