LatinNews Daily - 03 November 2021

In brief: Chile’s economic growth exceeds expectations

* Chile’s central bank (BCCh) has released the latest figures for its monthly index of economic activity (Imacec), which serves as a proxy for GDP. The September Imacec grew 1.7% compared with August, and 15.6% year-on-year. Growth was driven by the services sector which expanded 19.0% year-on-year, while trade was up 20.3% and industry up 10.4%. Mining however posted a 6.7% contraction. According to a finance ministry press release, the latest figures “widely exceeded market expectations which were between 12-13%”, confirming the country’s “rapid departure from the economic crisis” caused by the coronavirus (Covid-19) pandemic. The press release attributed the recovery to “fiscal support; the adaption of various sectors of the economy to the new health reality, the vaccination process and less restrictions on mobility”.

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