Economics
Chile’s Economic Woes Deepen as Tightening Bias Questioned
- June unemployment rate rose to highest in almost five years
- Industrial production down for the third consecutive month
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Chile’s economic woes deepened in June as unemployment rose and industrial production tumbled, adding to speculation that central bank will remove its tightening bias on monetary policy. Ten-year government bond yields fell the most in six months.
The jobless rate climbed to 6.9 percent in the three-months through June from 6.8 percent in the month-earlier period and from 6.5 percent the year before, according to the national statistics institute, in line with the medium estimate of economists polled by Bloomberg. Industrial production fell 3.8 percent in June from the year earlier, the third consecutive decline and compared with the 0.5 percent drop forecast by analysts.