Economics
Chile's Industrial Output Declines and Jobless Rate Rises
- The unemployment rate rose to 6.6% from 6.5% the month before
- Manufacturing rose 0.7% Y/y vs est. 1.3%; Retail Sales Up 2.9%
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Chile’s industrial production fell in July from the year earlier as mining output contracted, while the jobless rate rose, damping hopes that domestic demand would help growth accelerate later this year.
Industrial production slid 1.7 percent, led lower by a 4.4 percent drop in mining, the National Statistics Institute said on its website Monday. Unemployment climbed to 6.6 percent in the three months through July from 6.5 percent the year before, the agency said in a separate report, in line with the median estimate of 19 economists surveyed by Bloomberg.