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LatinNews Daily - 05 January 2021

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In brief: Chile’s Imacec registers first positive growth

* Chile’s central bank (BCCh) has released its monthly index of economic activity (Imacec) for November 2020 which shows 0.3% growth year-on-year – the first month to have registered positive year-on-year growth since the onset of the coronavirus (Covid-19) pandemic in March. In seasonally-adjusted terms, growth in November was 1.1% compared with the previous month. According to the BCCh press release, growth was driven by trade which was up 15.3% year-on-year while services and the production of goods fell 1.3% and 2.3% respectively. In its latest (December 2020) forecast the United Nations Economic Commission for Latin America & the Caribbean (Eclac) forecast that Chile’s GDP will contract 6% in 2020 and grow 5% in 2021.