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Chilean Retail Pushes Economy to Fastest Growth in 11 Months

Chile’s economy grew at the fastest pace in almost a year in November on gains in the service, mining and retail industries, increasing the likelihood that policy makers will act to cool internal demand.

The economy expanded 1.3 percent from the previous month on a seasonally-adjusted basis, the fastest gain in 11 months, the central bank said in a report posted on its website today. The Imacec index, a proxy for gross domestic product, climbed 5.5 percent from the previous year, exceeding the 5.2 percent forecast by analysts surveyed by Bloomberg.