LatinNews Daily - 02 February 2022

In brief: Chile posts strong year-on-year economic growth

* Chile’s central bank (BCCh) has released new figures showing that the monthly index of economic activity (Imacec), which serves as a proxy for GDP, increased 10.2% year-on-year in December 2021. According to a BCCh press release, all the Imacec components grew year-on-year in December 2021, driven by a rapid recovery from the coronavirus (Covid-19) pandemic, support measures for households, and the partial withdrawal of pension funds. In particular, the BCCh highlighted the contribution of services (up 12.6% year-on-year) and trade (up 14.8%). In monthly terms, however, Chile’s Imacec declined 0.4% in December compared with the previous month, mainly due to a slowdown in mining.

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