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LatinNews Daily - 02 July 2021

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In brief: Chile’s economic activity shows strong performance

* Chile’s central bank (BCCh) has released the most recent figures for its monthly indicator of economic activity (Imacec), which shows an 18.1% year-on-year variation in May. Meanwhile, the seasonally-adjusted Imacec increased 2.6% in May compared with April, and grew by 17.3% over the past 12 months. The positive performance of Chile’s economic activity was in particular driven by the services industry, where activity grew 16.8% year-on-year, and commercial activities, which grew 51.3%. The production of goods expanded 7.5% year-on-year, buoyed by a 15.3% expansion in the manufacturing industry but weighed down by a 0.3% contraction in mining. The BCCh noted that the Imacec’s performance can in part be explained “by the lower basis of comparison in May last year” as well as by a “better adaptation [this year] of households and businesses to the sanitary emergency associated with Covid-19 [the coronavirus pandemic]”.