LatinNews Daily - 02 December 2022

* 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, dropped by 1.2% in October 2022 compared to the same month of 2021. In monthly terms, the Imacec was up 0.5% compared to September. BCCh attributed the yearly Imacec results to a drop in trade, which was down 10.3%, with both retail and wholesale trade seeing declines, as well as a decrease of 5% for the manufacturing industry. Meanwhile the production of goods grew 0.7%, driven by a 1.7% increase in mining, and services were up 0.9% year-on-year. This follows a yearly decrease in the Imacec of 0.4% in September.

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