Weekly Report - 6 February 2020 (WR-20-05)

CHILE | Some optimism on the economy. On 3 February, Chile’s central bank (BCCh) published the results for the monthly economic activity index (Imacec) for December 2019, used as a proxy measure for GDP growth. Economic activity in December expanded 1.1% year-on-year and 3.5% compared with November 2019, a surprisingly positive result following the Imacec’s 3.4% and 3.3% year-on-year contractions in October and November, respectively, as a result of the country’s ongoing social protests.