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LatinNews Daily - 19 May 2021

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In brief: Chile’s economic growth shows gradual recovery

* Chile’s central bank (BCCh) has released new figures which show the country’s GDP grew 0.3% in the first quarter of 2021 compared with the same period in 2020. This compares with 0.0% year-on-year growth in the previous quarter; -9.0% growth in the third quarter of 2020; -14.2% in the second quarter of 2020; and 0.2% in the first quarter of 2020. Growth in the first quarter of 2021 was driven by trade, followed by agriculture & forestry and the manufacturing industry. Meanwhile, other sectors such as mining, hospitality & restaurants and construction continued to contract. Last month BCCh increased its national GDP growth forecast for 2021 from 5.5%-6.5% to 6%-7%. Chile's GDP fell by 5.8% in 2020 due to the effects of the coronavirus (Covid-19) pandemic.