LatinNews Daily - 19 November 2020

* Chile’s central bank (BCCh) has reported that the country’s economy contracted by 9.1% year-on-year in the third quarter of 2020. The result represents a 5.2% increase compared with the second quarter (in which a historic 14.5% year-on-year decline in GDP was registered). The recovery was attributed by the BCCh to “the gradual lifting of sanitary control measures” imposed in response to the coronavirus (Covid-19) pandemic and to the provision of “economic measures to support households”. These measures saw household consumption increase compared with the second quarter, but nonetheless fall by 8.8% year-on-year, reflecting the continued impact of the pandemic. According to the BCCh, the worst-affected sectors include personal services, construction, transportation, hospitality, and business services.

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