Chile’s Economy Unexpectedly Expands for First Time Since January
- Activity gains 0.5% on month in June, falls 1% on year
- Central bank cut key rate by 100 basis points on Friday
This article is for subscribers only.
Chile’s economic activity expanded for the first time since January as a surge in mining softened the blow from declines across other sectors, corroborating the central bank’s plans to continue interest rate cuts.
The Imacec index, a proxy for gross domestic product, rose 0.5% in June from the previous month, compared to the -0.1% median estimate in a Bloomberg survey. From a year prior, it fell 1%, the central bank reported on Tuesday.