LatinNews Daily - 02 August 2022

In brief: Chile’s growth slows

* Chile’s central bank (BCCh) has released new figures showing that the index of economic activity (Imacec), which serves as a proxy for GDP, grew by 3.7% year-on-year in June. In seasonally-adjusted monthly terms the Imacec was down 0.2% compared with May. The year-on-year rate compares with 6.4% in May. In a statement, BCCh said that the yearly growth was driven mainly by activities in the services sector, which grew by 9% with strong performances for personal services – particularly education – as well as transportation and business services. Production of goods fell 0.7%, driven by decreases in mining and industry activities. Commercial activity was also down by 5.9% with a drop in retail sales in supermarkets and department stores and in wholesale sales of food, drinks and construction materials.

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