Chile's economy posted 4.5% growth in February

All activities contributed to Imacec's annual growth, highlighting mining, services and other goods.

Tuesday, April 2, 2024.- The central bank said the monthly index of economic growth (Imacec) rose 4.5% in February, the highest figure in two years.

“The seasonally adjusted series increased by 0.8% compared to the previous month and grew by 2.8% over the twelve months. As a result of the leap year, the month recorded one day more than February 2023,” the issuing company explained.

Likewise, he highlighted that all activities have contributed to Imacek's annual growth. Highlighting mining, services and other goods.

On the other hand, the increase in Imacec's seasonally adjusted terms was explained by all its components, mainly affected by mining, services and industry.

For non-mining Imacec, it delivered a 3.5% increase over the twelve months, while in seasonally adjusted terms it was up 0.6% compared to the previous month.

imacheck analysis by function

1.Production of goods

Production of goods increased by 8.7% on annual basis. Mainly affected by 11.5% increase in mining. Meanwhile, Rest of Goods and Industry showed growth of 6.7% and 5.2% respectively.

On a seasonally adjusted basis, production of goods increased by 1.7% compared to the previous month. This result was explained by all its components, especially mining, which expanded by 2.5%, followed by industrial by 2.1%. For its part, the rest of the goods grew by 0.7%.

2. Trade

Business activity showed an increase of 2.0% year-on-year. This result was explained by wholesale and retail trade. First, sales of household goods and food stood out, and second, sales in large stores, specialty food and beverage establishments, and pharmacies. Conversely, vehicle sales have declined.

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Seasonally adjusted figures showed growth of 0.4% compared to the previous month, with the impact of auto trade partially offset by a fall in total trade.

3. Services

Services grew by 3.2% on an annual basis, recording growth across all its activities, highlighting transport services.

The seasonally adjusted figures showed a growth of 0.5% compared to the previous month.

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