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LatinNews Daily - 19 August 2021

In brief: Chile’s GDP sees second quarter growth

* Chile’s central bank (BCCh) has released its latest figures on GDP growth, which show that Chile’s economy grew 1% in the second quarter of this year compared with the first. This confirms the country’s economic recovery despite a second wave of coronavirus (Covid-19) infections which forced a return to lockdowns during part of Q2. In year-on-year terms, Q2 GDP grew 18.1%, reflecting the low basis of comparison. According to the BCCh, quarterly growth can be primarily explained by the performance of the trade and mining sectors. Domestic demand grew 1.6% in Q2 compared with Q1, with household consumption “driven by the economic support measures and the partial withdrawal of pension funds”. Mining GDP grew 3.1% in quarterly terms. Year-on-year, domestic demand expanded 31.7% while mining GDP grew 2.8%.

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