Chile Economy Posts Fastest Growth Since 2021 as Consumption Powers Recovery
- GDP rose 1.9% in first quarter from prior three-month period
- Government recently raised 2024 growth forecast to 2.7%
Employees use a machine to extract copper in a mine in Calama, Chile.
Photographer: Glenn Arcos/AFP/Getty ImagesThis article is for subscribers only.
Chile’s economy recorded the fastest quarterly growth since 2021, when government stimulus fueled domestic demand during the pandemic, as both mining output and consumption increased while slowing inflation and falling interest rates provided much-needed relief.
Gross domestic product rose 1.9% in the first quarter compared with the prior three months, a tad less than the 2% median forecast from analysts in a Bloomberg survey. From a year ago, the economy expanded 2.3%, the central bank reported on Monday.