LatinNews Daily - 04 January 2022

In brief: Chile’s economy continues to recover

* Chile’s central bank (BCCh) has released new figures which show that its monthly index of economic activity (Imacec), which serves as a proxy for GDP, grew 0.3% in November compared with the previous month and 14.3% year-on-year. According to the BCCh this result is explained in part by the continued opening up of the economy following earlier measures taken to stop the spread of the coronavirus (Covid-19), support measures for households, and partial withdrawals of pension funds. In its latest monetary policy report (IPoM) released last month, the BCCh increased its domestic economic growth projection for 2021 to 11.0%-11.5%, up from 10.5%-11.5% in September. The BCCH explained the upwards revision by pointing to better dynamism of spending, the rise in private consumption, and investment in machinery and equipment. Chile’s GDP grew 17.2% in the third quarter of 2021 compared with the same quarter in 2020.

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