LatinNews Daily - 03 May 2022

In brief: Chile’s growth recovers

* 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, grew by 7.2% year-on-year in March. In monthly terms the Imacec was up 1.6% compared with the previous month in seasonally-adjusted terms. This compares with a monthly decline of 0.7% in February. In a statement, BCCh said that the result was explained “mainly by the increase in services activity.” On 27 April the United Nations Economic Commission for Latin America & the Caribbean (Eclac) lowered its growth forecast for Chile for 2022 to 1.5%, down from its January estimate of 1.9%. This was in line with a drop in its growth forecast of 1.8% on average for Latin America and the Caribbean, down from 2.1% in January.

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